New
#11
Yes, that's what it means. It is *ready* to hibernate (RAM has been saved to disk), but it sleeps first. You can configure how long after it sleeps that it hibernates too, in the power options, when hybrid sleep is enabled.
You can indeed pull the plug, pop the battery, etc - when you power back on, it will resume from hibernate. The only way to see Hibernate in the start menu is to disable hibernation (and reboot) via powercfg, although that makes sleep "unsafe" if you lose power. That may be what you actually want, though.