Yup, they are different connections. I believe you'll see that on a CDMA phone that is on the edge of Evdo and 1x/RTT. The signal strength may go up when it drops back to 1x.
The same happens with Edge/HSPA. If you are on the edge of a decent HSPA signal, the meter will show no or one bars. When it falls off and switches down to Edge, it may be able to get an excellent signal for that. They aren't necessarily on the same frequency, so Edge will often be stronger. I think both ATT and TMo have Edge in the 850-900MHz ballpark? So it will have better in-building strength and whatnot.