Yes. I think it was a tribute to Sqn 303. A Polish Squadron in WW2. 303 was the compass bearing instilled into the Polish Pilots for the return trip if they got lost over France if folklore is to believed.
The pilot of the video above was Ray Hanna. A master display pilot second to none. While the Video suggest it was never to be repeated due to the danger I'm sure Ray Hanna could have done it 100 times a day with no incidents.
Probably been seen many time before but....
Here's another example of his abilities (Excuse the profanities at the end).
[EDIT]\turn up the volume. [/EDIT]
TTFN
John