No, that's not multitouch in the sense we mean it. Yes, it involves 2 fingers, but by that definition a 2-button mouse is multitouch! (Heck, "holding a cookie" is also multitouch if you mean it that way.)
When we use the word multitouch it implies that the computer knows where each finger is in relation to each other. This makes things like 'pinch to zoom' possible.
Your laptop could detect if 1 or 2 fingers was touching it, but that was it. It didn't know how far apart they were or where they were moving. It just used 2-fingers as another modifing 'control' key, basically.