You are correct - one handle for each pair of remote couplers.
Each handle has 3 positions: the center is neutral, where no oil should flow. Pull back for raise, and push forward two notches (through neutral) for lower. Of course, "raise" and "lower" assume you have the hoses properly plumbed in the couplers. In other words, the action will be backwards if the hoses are attached backwards.
Be advised that if you're flowing oil through your loader valve with one remote, the other one will not function. In an open center system, oil will take the path of least resistance, which is your loader valve if it's flowing.