That is absolutely correct. While there was a Flying Orchid program, it has nothing to do with the FO label, which was applied to the original Medallion members (back when there was only one level), because they flew often. Hence, a Delta FF who flys often was annointed with Medallion level and this appeared as "FO" in the record.

Flying Orchid was an honorary title basically for the secretaries and travel arrangers that booked their bosses on Delta. (Essentially, consider them as the ones who did the booking for the Flying Colonels, although the program grew larger than that).