To expand on this...
If you use "true" you are looking for the closest item that does not go above your lookup value. In the case of numbers this means the first value that is not above your variable.
For a string (or concatenation in your case) it will do the same thing - only alphabetically.
In most cases vlookup uses the false - and is therefore unimportant that it is sorted.
(Unless of course you are wanting to inch every bit of speed out of your spreadsheet - but this is hardly noticable unless you are doing thousands of calculations.)