In short, we agree with it. The explanation of why is a longer answer.
The word "dispensation" literally means: stewardship; management over another's property. There have been several different dispensations (most will agree on 6 to 8) described in Scripture covering time periods from the past, present and looking forward to the future.
We believe that God gives His followers the responsibility over His creation to glorify Him in whatever manner He dictates during the given age. For example, once Moses introduced the Law of Leviticus, it was God's will and man's responsibility to adhere to that Law until God said otherwise. When Christ died on the cross and rose from the grave, he fulfilled the Law and thereby issued in a new responsibility for mankind. This is commonly referred to as the "Age of Grace."
The Greek word for dispensation is the same root of our English word "economy" which means: careful management of a particular resource. God has chosen to deal with mankind in different ways during different ages. For example, in the garden of Eden (what is commonly referred to as the "Age of Innocence"), God came down to earth and walked and talked with Adam on a regular basis. Once sin entered into the equation, God distanced Himself from mankind to the point where conversations were had on a long-distance format through sacrifices and prayer.
Understandably, people become lost in all of this. Simply put, from God's view, a dispensation is an economy, and from man's view, a dispensation is a responsibility.
If you would like a more in-depth description of our stance on this topic, please contact us.