hi herekity!
Your monstera will produce leaves from stems as well as from the bottom of plant (just as you described). If the conditions are great, the leaves on the plant will produce slits and holes as mentioned above. This will not occur to existing leaves, just leaves that appear from here on out (I BELIEVE "/). The more mature the plant is (the longer you've had it), the more you'll see these slits and holes. When speaking of the maturity of a plant, at least in this case, it's referred to the maturity of the plant as a whole. So yes, there may be a fresh new leaf, but if your plant has matured, the leaf probably will unravel with slits and holes. I hope this helps and I hope my information given is accurate. It is all based on my personal experience.
I am not as experienced with plants as most here so if anyone reads this, please correct me if I am wrong! [=