Yes, it is true - you can hook Enterprise f0rms Workflow Manager in to provide work flow for a DNN core text / html module. So user A can update content in the module, and it does not display until user B approves it. How's them apples?
There is a free download on the Enterprise f0rms site. See the first download at that link - "Text / HTML Module Workflow Extender." I haven't put that bit in production yet (but certainly will) but I did download and test it, and it works as advertised.
As noted, Enterprise f0rms can also accomplish much more. One of the scariest pieces of software, inside or outside of DNN, that I've had the pleasure to know. And one that I use regularly.