Actually he's short hopping, then airdodges at the very last moment in order to slide on the ground with the dodge's momentum. Edit: Looks like he HAS to turn around too otherwise it doesn't do anything. That's kinda weird. Gonna have to try that when DMC4 isn't kicking my ass.
Also Smash players can be retards sometimes and ever since someone named Wobbles's tactics as "wobbling" they try to name everything after themselves.
Wobbling was ground breaking for the ICs. It made them so much more powerful. I've pulled it off on my friends and taken them from 0 to death with just one grab. He deserves to have that named after him. It wasn't even named by him though. People named it after him in recognition for finding such a powerful technique.
All the people playing Brawl trying to find ATs are gay though. Some guy found that you can do a running attack with Falco right into an up smash from the animation and he called it DarkLink X Hit Cancel (DLX hit cancel for short). Horribe, horrible name. The guy who discovered this wants to call it "Craq walk" when it's clearly a waveland. Everyone's trying to go down in the smash history books for finding a new technique. They're trying way too hard.
Also, this is done differently than a normal waveland. You run, jump, DI backwards as you're about to land, and tap the control stick backwards quickly as you land.