In the translation section there is a bar showing the distribution of the word across the books of the Bible.

The 154 is the number of occurrences of the word across the entire Bible. When I hover over 154 I get the definition of density "Number of Hits in Book / Number of Words in Book". Am I correct in assuming that the number that I get when hovering over a bar is the number of hits but the height of the line is the density (as defined in the pop-up?).

I recognize that the results are normalized i.e. the highest line always takes the entire bar height and everything else is relative to that.
Am I correct in assuming that the number that I get when hovering over a bar is the number of hits but the height of the line is the density (as defined in the pop-up?)
Yes, that is correct.