Livescribe speech recognition?

Does the desktop software and web applications offer speech recognition? Is the audio notes searchable? I've got the impression of this from some sources on the web. But I haven't seen any info about this on the Livescribe site. Or does this quote,"Notes and audio can also be uploaded to a PC where they can be replayed, saved, searched or sent", from the platform description actually mean searchable audio. I've just assumed searchable notes since I know that handwriting recognition is fairly usable nowadays.