No, I came across this question (was it PHY4 January 2007?) and I think you misread it. Yes a polaroid is designed to confine all the oscillations of a wave in one single plane hence it reduces the intensity as the long chain molecules in the polaroid absorb the other planes. Now what the question says is that if you had the polaroid already in front of you, and you notice a decrease in intensity, and then you rotate it, there essentially is no change in the intensity you observe compared to the one previously. This is simply because instead of allowing components (let's say) vertically of the wave, it allows the horizontal components, so the overall change is nothing.