I don't have iSem. I assume the above means just like it say, that you now can use the import and export. That to me mean not you don't have to use iTunes, but the applications own import and export features.
The import and export is in SEM V to be found in the menu of the application. I assume it's the same with iSEM.
You can read about SEM Vs import and export in the SEM V manual.