Yes, it most likely is intended to be a clonal/cultivar name. It is somewhat common to give an unregistered cross a cultivar name if it is being cloned or used in breeding, especially if the grower has several or many plants of the cross. They need some way to designate a specific plant, and a cultivar name is the best way to do it. The grower may not want to bother naming the cross until after it proves to be successful, or if it isn't their own cross they don't have the option to name it without permission of the person who made the cross.
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