Here's a first hand report from a swimmer in Sri Lanka. Very different from what's described in this article.
http://www.washingtonpost.com/wp-dyn/articles/A26784-2004Dec26.html?nav=hcmodule
I can't imagine a tsunami creating a vacuum out in front of its path, which is what it would take to create an undertow, unless a huge wave pulled water from below, stacked it up high, creating room for an undertow.
Man oh man. Nature is mind blowing. Think of the force of a little 3 foot wave you've played in that's tossed you around and magnify it times a a million billion!