It would seem so.
If you have had LT installed for a while and updated through the different versions over a year or more then historically it would all have been in Prog Files.
Could there now be three possible states of installation?
1/ Carry over install where it was originally in Prog Files and you get updates to that install and new Lib files are now placed in AppData.
2/ Clean first time install of LT. Where it installs depends on what you initially select. If you select 'Install only for me' you get the full AppData install with nothing written to Prog Files. As long as you are consistent with updates and only use that option it remains in this state.
3/ As above but you are not consistent (which could be what I did) and install an update using 'For All Users'. Now you retain the previous AppData version but a parallel install of the actual program now installs in Prog Files. You end up with two LT versions both of which can be used.
If that is what happens then I found the AppData version then reports as being up to date when using 'Check for Updates' but the 'About' button still shows the older version