Hi Jimmy,
Not quite. I think that was one of my first guesses too!
The right hand button turns the throttle on
The green one on the left is the de-restrict button
The red one on the left turns pedelec on and off.
It's not the best interface ever designed! David did say in this
post, when I was trying to crack the code, that they were going to streamline things for the 2008 UK version - which is a good idea!
When you think you've got it right it's very easy to accidentally press a button which leaves you having to guess again. What I do in practice is always use the bike de-restricted with throttle and pedelec on. I then rotate the buttons so they point downwards where I won't press them by accident. Confusing at first but it's ok when you get the hang of it.
Frank