Yes this is correct looking at it. I forgot that you have to picture the outer edge paths of the flex watt as none resistive heating elements. It is the cross paths in the flex watt that would be considered the resistances in the circuit.
So, I stand corrected and the first is technically a parallel wiring!
Thanks for adding that clarity ctrlfreq.
I still do not think the first is the best method though as you would be using twice the number of connectors and those connector kits are not cheap! I've tried the solder type connections and have never been happy with the end result.