Yep, that’s correct, you don’t have to translate those parts.
The named <> tags are stripped out by the game, so they won’t show up when playing.
I think they’re partially to make sure the same string in different contexts remains unique, and partially to show what the words are being used for when it’s ambiguous.
Gettext does appear to have a solution for making strings unique, so i’ll be looking at getting rid of some of the tags after the next stable release, but for now you can just leave the bit inside the <> untranslated.