Yes, you're correct. Do you study Old Norse? When new technology or terms arrive in Iceland usually new words are created, or old words are given a new meaning (as opposed to adopting foreign words, such as telephone (sími in Icelandic, which is an archaic word meaning wire). Einhverfur is one of those, I suppose. It can also mean what you said.
You might want to visit Iceland, then. Modern Icelandic is very similar to Old Norse and to a lesser extent to Old English. The pronunciation has changed a little since the 10th century.
And there are other things to enjoy, such as outdoors thermal pools. You could strike up a conversation about the language with local people in a "hot pot" (heitur pottur), as we call the outdoors jacuzzies. :)
