Those are reasonably correct. If it helps to expand concept; 24/1 is 24 teeth (trigger signals) per 360° crank revolution from any suitable source, and 1 cycle reference signal from any suitable source every 720° (two crank revolutions) on a 4-stroke engine. While the source of the cycle signal is typically the half-speed camshaft or cam drive mechanism, the signal does not have to source from there, and is more properly a cycle signal. Sometimes terms such as "cam signal" are convenient, but can also limit scope and understanding.
Keep in-mind, "teeth" can be any sensor target or change feature to be sensed. Added material (teeth), bumps, missing teeth, gaps, holes, slots, etc. The tip of a valve or rocker, or pressure pulse from a mechanical fuel pump could be sensed as a cycle signal. Below is a "GM 7x" wheel (6+1), which has gaps instead of "teeth" to the same effect. As you can imagine, the sensor response and the input circuit (conditioners) response or actions become rather important for setup in order to read the correct feature of the wheel at the correct time.
Whatever value is entered as 100% is your baseline, and applies the dead time (latency) value entered. If your correct injector latency is 0.8ms at 12.5V, then enter the 100% value at 12.5V and your baseline dead-time as 0.8ms. Other percentage values you enter are applied at other entered table voltages and interpolated in-between. Search for posts and info of how the corrections work and how other ms%@V values are calculated from that baseline value.