Yes, correct. Detect 10mA or above, up to 10A. No external power supply available.
The output could best thought of as an LED in an opto that indicates the circuit is active. In reality it is a little more complex than just an LED.
The only reason a ground is shown on my posted circuit is because Microcap requires it to perform a simulation: there is no (and will be no) actual ground reference.
I did not think of it till now, but you have made me think 'current transformer', and using its' output to drive "the LED". 1000:1 though, I would have to think about a core that could give me enough output at 10mA but not go up in smoke at 10A, or produce so much output at 10A that it would make clamping it down to something usable worse (dissipate more power) than the diode idea.
Cheers, MM.
EDIT: I don't like playing with mains, so I am leaning pretty heavy on the simulation at present. When it gets real I will be working with 24 volts (AC) to do real world tests... as long as my voltage is above the drop of the "diode sensor", the actual voltage should not be of much importance, only the current. Final stage, after *all* verification, mains connection.