Yes, it's something like that.
I was also wondering were the spans should go. Should there be one span around it all? Or one for the img and one for the tail? I grabbed the preview and it has:
Code:
<span class="koboSpan" id="kobo.2.1"><img src="stro_9781101081983_oeb_002_r1.gif" alt="002" class="imgepub" xmlns="http://www.w3.org/1999/xhtml" /></span><span class="koboSpan" id="kobo.3.1">BOMB SCARE</span>
The tag and the tail text are being treated as separate sentences. Which makes sense as the tail could be multiple sentences.