no, this is data portability and it is coming before facebook's "facebook connect". data portability means allowing the profile data to be temporarily available to sites out of the social network's domain.
That is what the first version of the Facebook API did. You could log in to someone's website and it would get access to all your data temporarily. And it was not on the social network's domain.
Facebook connect is something else that I haven't quite worked out. If it is like Google Friend Connect than it would be a bunch of widgets that let your easily plug in social features into any website.
