Here's what it says on the Princess site:
"SANTA CLARITA, Calif. (June 15, 2011) --
Princess Cruises has announced that smoking will no longer be allowed in passenger staterooms or on balconies, effective on all sailings departing after January 15, 2012. "
So I'd guess that you're right. One day of smoking will be allowed on balconies (the 14th), then smoker's have to go to the smoking area's. At least that the way I read it
.