It looks like it's just shot peening with very fine powder media instead of beads, so that it leaves a smoother surface finish.
Unless they've come up with some very special blasting media for it, it seems overpriced (it might be a bit more effective than normal shot peening, but an actual comparison test would be useful).
The result is probably something between shot peening and ISF micropolishing, although it seems that it could be a cheaper alternative than performing both on a particular part.