You’ve basically got it right. In order to receive the housing allowance that accompanies the new Post 9/11 GI Bill, you must be attending school at more than 1/2 time. Be aware, however, that for a course to count toward this, it has to count toward your educational program. If necessary, speak with an educational counselor at your school to make sure any classes you take count toward your degree program.
As for the distance learning courses, you are again correct. You only need to be taking one classroom course to be eligible for the housing allowance. So, just make sure that at any particular time, you are taking at least one traditional classroom course.
It’s in your best interest to, if possible, take a full course load. This lets you get the maximum benefit out of the GI Bill so that you finish your education sooner.