Hi
That is how you set ingress if you want egress you set another line -- ip flow monitor m1 output
you may have an issue with your software version if your receiving both ingress/egress using just that line
http://www.cisco.com/c/en/us/products/collateral/ios-nx-os-software/flexible-netflow/prod_qas0900aecd804be091.html
Q. What is an example of Flexible NetFlow configuration with a pre-defined flow record?
A. This example will configure traditional NetFlow export using the new Flexible NetFlow CLI. The user will create the Flow Monitor and attaches the Flow Record and Flow Exporter to the Flow Monitor. In this example the flow exporter is named export-to-server and the destination address of the server is 172.16.1.1. The flow monitor is named my-flow-monitor and contains the pre-defined flow record netflow-original. The flow monitor is the attached to the interface to track input (ingress) traffic.
flow exporter export-to-server
destination 172.16.1.1
flow monitor my-flow-monitor
record netflow-original
exporter export-to-server
interface Ethernet 1/0
ip flow monitor my-flow-monitor input