Yes it is approved.  It's very close to the Hammer Switch Blade.  It's a lengthy and flippy ball motion for medium conditions.  A surface adjustment to 800 ot 1000 would cover heavier patterns.
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-DJ Marshall
...The Twelve In a Row Pro Shop

Edited on 5/8/2007 12:42 PM

Almost every ball put out by major manufacturers is approved.  The market for unapproved balls is almost nil, so they go out of their way to make sure the ball is approved, they're designed to pass muster.  That doesn't absolve you from making sure, but you'd have to work hard to find a ball from a US-based manufacturer that's not approved.  It's possible that someone like ABS in Japan wouldn't get their stuff USBC-approved because they aren't marketing them in countries where USBC sanctioning is the norm.

SH