That is a level using alternating hips full-time to go down and double-time to come up. That is not really recognized as a "move", but is in the repertoire as a level variation, I suppose. Its one of those moves that conserves energy and pulls the eye in to focus on the small movements of the hips. Kind of a specialty move and you have to be pretty connected with your partner to sync up properly.

The cue to go into the level is arms out at shoulder level and going up on the balls of the feet. The hips can go full time or dbl-time for the whole sequence or split, like in the video, which is most commonly used. Sometimes we mix it up and do alternating hips down and shoulder shimmy up or vice versa.

Its playful, yet really helps us out when the music is really fast and don't want to blow our energy out.