Hi @Kristen_Adams! Sorry for the confusion here.
What is explained in the Guide it’s indeed the same that I have described. I understand that it might be a bit confusing but let me see if I can rephrase it:
When you are a member of a Team, you will have Full access to all the Projects within this Team by default. You will also have access to the Team Conversation.
A Limited Access Member only has access to those Projects or tasks that has been invited to but he/she won’t have access to other projects or conversation of the Team.
I hope this helps clarify the matter! 