Yes, that is correct. It is bundled into the LANDesk package but it is dreadfully outdated. Though it is a 3rd party tool, it is actively promoted by Ivanti and still included as a feature of their software. So, Ivanti should continue to maintain it as long as they continue to use it, no?
As an aside: We would certainly prefer to use ImageX but, for some reason, ImageX does not work the same way in LANDesk Provisioning as it does on its own. We spent a lot of time recreating all of our images in the WIM format. Using Microsoft's tools, all of these images test well. LANDesk, however, refuses to apply the images correctly. No one at LANDesk could explain what LANDesk did differently such that these WIMs could be applied with Microsoft's DISM but not from within a LANDesk Provisioning Template. So, we have been forced to use LANDesk's OTHER tool, ImageW.exe to create binary images instead. That's how we got where we are now. We are essentially forced to use this tool rather than ImageX. And the tool is now outdated.