I believe that's correct. It's part of the reason that they'll never turn that white M into seats...too much school tradition there (though they are expanding the stadium to about a bit more than Arkansas-sized seating...maybe by a few thousand)
I also know fans will fill up the hill there, but I have no idea how exactly that works with tickets (if it does at all).
When they were in the big 12, they also used to let the fans leave the stadium for like a second tailgating between the halves and then they could re-enter (after getting their fill of more beer and such)...of course SEC prohibits re-entry (likely for that very reason) so they had to give it up once they changed conferences