That's pretty much it. Right on with the client having a period in which it needs to ping the server to update its lease with the server. However, the lease period is not an exact one, meaning the actual time period is a sliding window. See http://jira.jboss.com/jira/browse/JBREM-408 for more details on how it works internally.
The other thing is that when client considered dead, will just notify connection listeners that have been registered (if any). Takes no other action.
Is there a standard, default listener installed that closes the connection with the client? Or is it, out of box, a no-op? If I don't have a connection listener, can I therefore ignore the lease stuff and just set it to -1 to not use it?
There is no connection listeners by default. Have to be added manually by user. Leasing will be disabled until at least one connection listener is registered (and turns off after all are removed).