First, the guy in the video has a little too much hand movement. The re-adjustments aren't necessary, and his rubbing action to start the weave on a few, is a bit amateur. However, it's a start...but if that is a finished product, meh.
As for it being exposure - I am not sure...I can see how you could think that, and have a strong argument for it - but the shuffle has been around for a long time.
If I am not mistaken...the shuffle came from a game in the 1800's, called Faro.
Anyhow, if you think that is exposure - you will NOT be happy with Wikapedia.
http://en.wikipedia.org/wiki/Faro_shuffle
In all honesty though - even if it is exposure - WHY would someone want to learn to do it, that was not a magician? Please - I know a dozen effects with faro's...and only one or two that I would consider performing. Even if you knew about a faro - that video does not explain the principles behind it...to them, it appears like magic. As, performing an effect, like UNSHUFFLED, then by definition would be "exposure".
Even the wikapedia site doesn't say HOW to do it, just that it can be done. My ruling - thud thud (of wooden gavel) NOT EXPOSURE!