yes, it is true that Ammonia (NH3) when in lower pH waters (below 7) is protonated (a Hydrogen molecule is added) to form the non toxic NH4 (ammonium).
the lower the pH the higher the proportion of non toxic NH4 molecules floating around. but there will always be some NH3 present, as it exists in a ratio. but at more acidic pH's the contribution of the toxic form will be neglible as far as fish goes.
for the chemistry buffs out there, the equilbrium is as follows:
H30+ + NH3 ___> H20 + NH4
in low pH water, there is more H30+ ions, so the equilbrium shifts to the right creating more non toxic NH4 molecules.