No the above statements are not all correct.
When the voltage is above 0.6 V, it's like a short circuit in the forward direction but an open circuit in the backwards direction.
1)It acts as a short circuit when the applied voltage is greater than 0.6 V but the diode always act as circuit element like resistor with the only difference being that it always drops a constant voltage of 0.6 V.It is open circuit if it is a normal diode,but this is a zener diode so the the diode conducts in the reverse direction only when reverse voltage applied is greater than 3.4 V in the reverse direction.
2)Between -3.4 V<V
diode<0.6 V, the diode does not conduct and acts as a open circuit.
From the above circuit,
In the forward direction, the diode conducts when properly biased : V
cir=0.6 V(D1 Forward Biased)+7.4 V(D2 Reverse Biased)=8.0 V
In the reverse direction,(i.e.) if Voltage is negative, then the voltage drop is :V
cir=3.4 V(D1 Reverse Biased)+ 0.6 V(D2 Forward Biased)=4.0 V
The circuit will work only if the current flowing through the circuit(diode) is properly biased to get a drop of 0.6 V.
WORKING:
1)Positive Voltage it acts as a limiter with the maximum voltage drop being 8.0 V for input of 8.0 V and beyond.
2)Negative Voltage it acts as a limiter with the maximum voltage drop being 4.0 V for input of 4.0 V and beyond.
Hope this helps and clarifies your doubt.