The LSB is indeed what interacts with the bit-banding hardware. So yes, to 'set' your bit:
BITBAND_REG(GPIOD_PDOR, 2) = 1;
A particular place where 'bit band' hardware and macro come in VERY handy is to test a Boolean flag bit in a register, and especially for 'write 1 clear' w1c bits in such registers for 'interrupt acknowledge' without RMW or disturbing anything else!
if( BITBAND_REG(I2S0_RCSR, I2S_RCSR_FEF_SHIFT) )
0x10ee4: 0xf8df 0x1ae0 LDR.W R1, [PC, #0xae0] ; [0x119c8] 0x425e1048 (1113460808)
0x10ee8: 0x6809 LDR R1, [R1]
0x10eea: 0xb119 CBZ R1, ??I2S0_RX_IRQHandler_3 ; 0x10ef4
BITBAND_REG(I2S0_RCSR, I2S_RCSR_FEF_SHIFT) = 1;
0x10eec: 0xf8df 0x1ad8 LDR.W R1, [PC, #0xad8] ; [0x119c8] 0x425e1048 (1113460808)
0x10ef0: 0x2201 MOVS R2, #1
0x10ef2: 0x600a STR R2, [R1]
??I2S0_RX_IRQHandler_3: