Hi @flrocher
Apologies for the late answer, after 200+ days in lockdown, we are not our best in terms of prductivity!
Yes your interpretation is correct. The aim of PLS-DA is to discriminate the sample groups, rather than maximising the variance. When the maximisation of the variance corresponds to a discrimination of the classes, then this is awesome, but otherwise, it means that the major source of variation is probably not mainly due to the sample group differences.
Kim-Anh