That was a rumor. If you have the source code then you could convert an app I suppose. The tools that Microsoft has been working on are basically so developers can take the code they wrote for Android/IOS, make a few very small changes, recompile, and port directly to WP. They tools are easy to use and will be distributed quickly in the near future. I believe some of the SDK's that are out and about for Insiders are starting to see updates to prepare the software for these tools and features now.
In the future I wouldn't put it past somebody/Microsoft to allow the native execution of android apps though. After all, Android is based on some pretty open programming platforms. If something like that were to be developed the implications of such a feature would certainly radically change WP's position in the market. As things stand at the moment, however, things are looking up for WP, the 'app gap' (which REALLY is not that big), and ease of access for developers of other platforms. The new flagships like the Lumia 940 will roll out with Windows 10 this fall, the operating system is super slick. You can check out more about it at /t/Windows10Mobile if you haven't already. I hope to host development discussions there soon!