I agree that it looks nice and similar to what SSS eventually renders like. But strictly speaking it's not SSS. Actual SSS happens when the medium is somewhat transparent (light can enter the material) but also diffusive (light gets randomly bounced around within the material). Glass lacks this second property. A good example of a material exhibiting strong SSS would be wax.

Not that this matters much anyway, the effect is cool nonetheless, albeit a little bit improperly named.