It looks like solid shoulder work to me - I can't tell you enough how Larry Scott's methodologies have helped my shoulders and back. I really recommend you watch this through a few times and hit 5 sets of the palm-out "scott style" shoulder press. It is a strange motion, but once you get it you will love it.
It works the delts the same way laterals work, however it allows you to use much heavier weight and really get the muscles working deep.
Once you fall in love with that, check out the other Larry Scott Hypergrowth videos on youtube, the unorthodox tips I picked up from him have affected my physique more than I can tell you.