Worked for me too. I think it's working correctly. "New" behaves the same way with most of the iWork apps.
I had a ball with it last night! Creating the document was a breeze and putting it on my iPad couldn't have been easier. Looking forward to playing with it more today. If I know me (and I do) I'll have something by the end of the weekend that I can show around.
I love new toys.
