No I think that each number refers to the amount of Red, Green, and Blue out of a maximum of 1 and minimum of 0, hence pure red will be 1,0,0 and pure blue will be 0,1,0 etc.
This, for example, from a project I'm working on at the moment (0.8434000015 0.7299000025 0.5295000076) is a dull reddish orange.
Cheers
Richard