Entanglement is quite different from that. As you say, the effect you talk about can be seen classically with a pair of dissimilar coins that are hidden in boxes and then separated. As soon as one box is opened, we instantly know the contents of the other box.
Can you please explain "how we instantly know?" I see this bandied about. If by "instantly know" there is an observable change in the particles pair, that seems to me a form of FTL transmission. We each send a series of entangled particles to/from a distant location. We carefully time observing the particles or not observing the particles so as to send bits of information. I would think that is not possible.
Otherwise, if you mean "instantly know" by simply knowing that the other particle must be the opposite of what you have observed with a high statically likelihood, it sounds like not spooky action at a distance but what Frango Assado saids is Bohm's interpretation. I guess I am having a hard time understanding how something can be spooky action at a distance without transmitting information.