That's how I originally read it. I'm away for a few days so can't check, but from memory I know it's set to send 4 per minute to keep us well under the 500 per hour limit. And I think I have the wait times et to 15 seconds.
On the UE page where it says UA "will help you send batch emails without getting blocked." does that just mean sending a batch generally (as opposed to single emails)? Whereas the hosting company seems to be saying that ideally, if there were, say, 200 emails to get sent, they would ideally be split into batches of say, 50 or 100, to avoid falling foul of a the script timing out.
So it sounds like not only do we have to keep within their 500 emails per hour limit, but all the emails need to be sent within a particular total time. The workaround sounds like being breaking up the total emails into smaller batches.
Does that make sense?