A B757 CREW TAXIED INTO POS TO HOLD AS CLRED AT ATL. TWR CTLR TOOK EXCEPTION TO THEIR INTERP OF THE CLRNC.

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DURING TAXI; WHILE UNDER GND CTL AUTH; WE WERE DIRECTED TO SWITCH TO TWR FREQ AND THAT THE ACR MD88 IN FRONT OF US WAS OUR 'SEQUENCE' FOR TKOF. AFTER SWITCHING TO TWR FREQ; WE HEARD THE TWR CLR THE MD88 ONTO THE RWY (RWY 8R). SHORTLY THEREAFTER; THE MD88 WAS CLRED FOR TKOF AND (TO THE BEST OF MY KNOWLEDGE) WE WERE CLRED 'ON TO HOLD AND USE CAUTION FOR WAKE TURB BEHIND THE MD88.' WHILE TAXIING ONTO RWY 8R; THE TWR CALLED AND ASKED US 'WHERE ARE YOU GOING?' OUR REPLY WAS 'TO ZZZ; US.' TWR THEN INFORMED US THAT THE CLRNC ONTO THE RWY WAS FOR A KING AIR WAITING ON THE OTHER SIDE OF THE RWY AND CONTINUING TO HOLD. SINCE WE WERE ALREADY ON THE RWY; TWR CLRED US FOR TKOF. BEFORE TKOF; I READ BACK THE TKOF CLRNC AND INFORMED TWR THAT WE HAD UNDERSTOOD THE 'ON TO HOLD 'CLRNC WAS FOR US AND THAT I HAD REPLIED TO THAT CLRNC WITH OUR CALL SIGN WITH NO FURTHER RPT FROM TWR. SUPPLEMENTAL INFO FROM ACN 509507: WE HEARD AND READ BACK 'ACR XYZ POS AND HOLD RWY 8R. TWR INFORMED US THAT THE POS AND HOLD CLRNC WAS FOR A KING AIR ON THE OPPOSITE SIDE OF THE RWY. THE KING AIR DIDN'T MOVE.