Yea, that's what I got from it too.
EDIT: No, I'm absolutely certain that he had a twin. But, I think he first appeared after Bale's character went his separate way (after the rope tying incident). He kept alluding to it the entire time, by saying how he had the greatest trick planned, so I figured he kept his twin hidden, all part of his final trick.
As for the rope-tying incident, I just figured it was a case of him messing around. Michael Caine's character kept getting on him for being too arrogant, but he didn't really listen.