djsgal, SOTHC may be referring to the school of thought that according to some, if one hoof is raised, the rider was injured in battle, if two hooves are raised, the rider died in battle. However, Snopes.com declares that is completely false. The instances that Snopes refers to are all U.S. examples though. The rumor still goes on.
Wikipedia calls it an Urban Legend.
http://en.wikipedia.org/wiki/StatueOr, he could have said it tongue-in-cheek....