Marc, It is the former, not the latter, and the email states specifically:

"Thank you for your RSSC online excursion request(s). Below is a list detailing your requested excursions"......

(then it lists all of the excursions)

"You will receive final confirmation of selected shore excursions in your cabin when you embark. All fees will be billed to your onboard portfolio."

(Note the coment below, about not confusing them with multiple excursion requests)

"You will receive a faxable Shore Excursion Request Form within your documentation package; please do not complete and fax this form if you have requested your tours online."

Cheers,
Ken