No. Dr Hipp and Damien Katz were working on UnQL (http://www.unqlspec.org/display/UnQL/Home), which is unfortunately quite similar in name to this new UnQLite project.
Actually, Hipp has said publicly that he intended to created a new embedded database called UnQLite.
It seems this developer just blatantly ripped off the exact name Hipp was planning to use. He also ripped off some of the core SQLite code (the VFS, etc.), which is legal to do since SQLite is in the public domain, but still...
OK, actually I've emailed D. Richard Hipp a few months ago asking for permission to use the name UnQLite in a future open source project, here is a copy of Hipp's reply:
It would be good if you can make it clear on your website, somehow, that
yours is an unaffiliated project. Otherwise, people might go complaining
to me when they find bugs in your code. (Don't laugh - that sort of thing
happens a lot.)
Other than that, you are welcomed to use the name.
You might want to have a look at the LSM storage engine that Dan Kennedy is
working on for SQLite4. It is faster than the clunky and dated B-Tree used
by SQLite3. It is also faster than LevelDB. And it supports nested
transactions, with rollback. And concurrency. And it is more NAND-flash
friendly. See http://www.sqlite.org/src4/timeline for the latest code.