Yes, the address is the first argument, and options is the second argument:
the options can have 1, 2 or all 3 of the available options, for example you could use:
myPOV = {yaw:90};
myPano.setLocationAndPOV(point, myPOV);
or
myPOV = {yaw:90,pitch:-20};
myPano.setLocationAndPOV(point, myPOV);
or
myPOV = {yaw:90,zoom:10};
myPano.setLocationAndPOV(point, myPOV);
or
myPOV = {yaw:90,pitch:-20,zoom:10};
myPano.setLocationAndPOV(point, myPOV);