Looks a little bit like that, yes.
There's an example in the how-to, and yesterday I posted another one in https://www.opensource-socialnetwork.org/discussion/view/3173/how-can-i-keep-the-left-side-bar-groups-visible-all-the-time
So what's the problem? You're interested in retrieving/saving component settings, ok. Hence, my next step would be having a look at a component which IS in fact retrieving/saving settings. And since it's always a good idea to use the simplest one, my favorite would be OssnSmilies. Then let's have a look at its settings page now ...
Okay, we see 1 input field, and right clicking into it and choosing 'Inspect' will open the browser's dev console highlighting a select tag named
compatibility_mode. Right this already looks like a promising search term, and in fact searching the source for 'compatibility_mode' will return:
- components/OssnSmilies/plugins/default/forms/OssnSmilies/administrator/setting s.php, that's the form RETRIEVING and displaying the value from the database
- ./components/OssnSmilies/actions/smilies/admin/settings.php, that's the action SAVING the chosen setting back to the database
And having a look into these files already answers your question:
getComSettings("COMPONENT") is doing the read, while
setSettings("COMPONENT", array of settings) is doing the write.