Todd I think this is a fair implication of what is stated in the letter to Herodotus and in Book One of Lucretius, but I too question whether it is sufficient to address the ultimate issue that concerns us. I think the point Epicurus wanted to drive home is that while both levels are "real," our level of reality is no less real than the atomic level. Our reality comes through the senses, without which we have death, and that is what is important to us and why we don't give in to Platonic arguments about a "true world" beyond our senses, as if ours is inferior and we should long to be somewhere else.
If you're not familiar with the Book One discussion of the Trojan war and properties and qualities, you will want to look that up.