"In the different riding modes the Skyhook system still has access to and makes use of the full range of damping settings, but switching from one mode to another changes its zero point. In Sport for example its zeroed towards firmer damping settings and it always returns to those in normal riding, while in Urban or Enduro it sits at the other end of the scale, providing a softer ride in normal conditions."
"Where the old showed the separate compression and rebound settings as ‘click’ numbers, on the 2013 S models, you can increase or decrease the damping harder or softer by two stages from the central medium default. This can be done in each of the four modes, so for example if Touring is too firm, you can change it to one or two softer settings, and it will stay there unless you change it back."
So 4 modes with 4 levels of settings per = 16 "clicks", but as the article suggests, it is "re-zeroed" based on what mode you're in with only 4 levels of adjustment per mode.
So, yea, not AS customizable as the Ohlins, but pretty close.