2 pass VBR and batch window behaviour explanation

hey there,

i am currently encoding a file with 2 pass VBR. in the batch window the progress counts down, this particular encode took around 2 hours....to my surprise once the progress window got to 100% the batch window then went into a "waiting phase" then proceeded to tell me that the file has another 3 hours to go.

can someone please confirm the following

what i was watching was the first pass encode and the second 3 hour period is the 2nd pass?

thanks

G5 DP 2.0
2.0G RAM
OS 10.4.4
QT 7.0.4
FCP 5.0.4
BMD Decklink Extreme 5.4.2
PAL Land