No, those terms deal with Armory's deterministic wallets.
And Armory does let you import private keys, just that they aren't recoverable from the deterministic key and you actually need to maintain backups just like with any other client.
I've done the import of my private key into Armory using the 'sweep' option. Did I understand correctly that because I swept it I don't have to maintain individual backups of the private key, it's now fully controlled by my Armory wallet?
(For other newbs) - To import a private key using Armory you need to create a wallet first. Then in wallet properties choose the "Import/Sweep Private Keys" option. Then go though the sequence of dialogs to choose various options. The options seem well explained and I have no additional insight into them.