210.5(c) Tells you that ungrounded conductors need to be identified according to 210.5(c) (1), (2), and (3) (all 3)
210.5(c) (1) Tells you when. (If there is more than 1nominal voltage on premises.
210.5(c) (2) Tells you the acceptable means. (separate color coding,marking tape, tagging, or other approved means.)
And 210.5(c) (3) tells you how to let everyone know what you did to identify the voltages.
All things being equal; yes, that IS what it is saying.
