No thats not the case at all!
I have 1911's in 38 Super, 45 ACP and 10MM and they all handle a vast array of different hollow point ammunitions just as well as the FMJ's.
But while we can tell you what works in OUR pistolas, we can not tell you for 100% sure what will work in YOUR pistola!
I will say that a large majority of self defense ammo will usually work in the Taurus 1911, actually in most any modern 1911 regardless of manufacture.
but there may be that one brand/style that does not work.
I generaly start out trying Federla Classic as it has about the largest hollow point that i know of right now, but it is an older round so i don't carry it.
but mine run on Gold Dots, Golden Sabre, Hornady, PMC, Federal, and a few more.I
generally I carry a 200 grain self defense round but my particular 1911's run fine on 175-185-200- and 230 grain ammo.