You are correct. The VM Console does not shut down the guest on a VM. It requests the VM to perform a power off. We initially looked at shutting down the guest but the behavior, at that time, for VMWare across varying Operating Systems seemed inconsistent. It would be better if we had named that action "Power Off". We may look into adding the "Shut Down Guest" in a future release but would continue to provide a separate "Power Off" command for users who need a guarantee that the VM will be shut off.
Sorry for any inconvenience that may have caused you.