Yep, that's what it is. Way to grow, Chris. Now don't go getting too anxious about it. When it has roots about 2 or 3 inches long, you can think about separating it from the stem, and you can either plant it in its own pot or tuck it in with its mother. Or you can let it grow on the stem as long as the stem is green.
A friend of mine mounted one to a piece of cork, but left it attached to the stem until it had wrapped lots of roots around the cork and was well established. You could do that with a pot, too. Just 'pin' it down to a little pot and let it attach its roots to the pot and get well rooted then cut it.
