This is correct. They do not take them as words of the Buddha AFAIK.
The question really is why a new Nikaya when there are divisions already.
I, being one who was instrumental in setting up a temple for them a few years back do not think the same way as they do. It is why I left them.
To be precise, although they do chant Suttas and explain them to devotees, they are more intent on accumulating merit on the belief that they can be reborn in heaven. They believe that when they are in heaven they will come to associate with devas who understand right view and as a result they too will attain arahantship while in heaven without ever returning.
The activities they perform in order to get to heaven consist mostly of offerings of food such as rice and curries, fruits and vegetables always in very big quantities. They associate the offering of big quantities with being more generous.
These are my honest observations. I personally do not think that their above mentioned understanding is correct and that is why I left. But may be they are correct, who knows? So the best advise I can offer is, visit them, talk to them, observe what they do. If you think that their practices make sense in relation to the Buddha’s teaching, you have found the right place.