It can be done fast or slow, but the lady's centre goes down. Lift - The man takes the lady of her feet and holds her there. Aerial throw - A throw above the mans head, usually with no contact. Transition - One lift into another. Everybody has there own names for lifts - there is no consistency between styles, countries or teachers.
Individual lifts are also very difficult to describe in writing.
I would call that a propeller. The more transitions that there are also increase difficulty. Other things to watch out for are fewer supports - a one handed overhead lift is better than 2 hands, or where the girl uses her hands. Lifts should also move - either walked around the floor, spun on the spot, or both. A stationary lift is boring after a while.