Yes thats what it means. Bizarely, your predicted grades are actually more important than your actual grades now in some ways which is ridiculous. But that's how the system works now. Say the school 'only' predict you BBB, but you think you can get ABB, this means that the top 10 or so unis for your course are out of reach as they are unlikely (or less likely) to offer for a course where the published requirements are ABB. However, if you can persuade the school to predict you ABB, you will likely get an offer for an ABB course, and then quite possibly still get in if you actually get BBB anyway - either directly at result as time, or through clearing. But its much better to get in directly as your first choice as then you have accomodation guaranteed etc.
This exact thing happenned to my child last year. Wanted to apply to courses at top 10/RGs for the course which specified AAB. School were predicting BBB. Eventually got them to predict ABB. Applied to ambitious RG AAB uni, 2 x ABBs and 2 x BBBs. Got offers from all 5, including the AAB with ABB predictions. I don't think would have got the offer from the AAB with BBB predicted as that would have been 2 below. So first choice was the ambitious AAB, second choice one of the ABBs. Got ABB, but AAB let them in on results day anyway and just passed first year with high marks. But he wouldn't have been in the running for that course at that uni if his predicted grades had stayed at BBB, because they wouldnt have offered (and the course did not go to clearing so the lowest grade kid on there is an ABB like mine).
So the moral of the story, and what I will be telling younger DC now been through this once, is you have to hit the ground running in L6 first year of A levels and get good marks and mock results so that they give you the predicted grades you need before the applications go in in October of U6, or you will be blocked from applying to many of the courses/unis that specify higher grades. The good news is that most schools seems to predict low initially, to give them a kick up the arse if needed, but then give them a couple of opportunities through further tests, assignements etc to go up a grade or two before the applications go in at half term.
Much easier to be getting the grades you need by the end of L6 though ...