I suppose this is more of an aesthetic thing than a tech thing considering that a cable like this probably doesn't match the USB spec very well ;-)
If the cable he's using is shielded by ground then I think it might be up to USB 2 spec?
Edit: Interesting mini-comparison of USB 1 and USB 2 http://ww3.microtek.com.tw/tw/uploads/faq/pdf/comparison-usb...
See the USB 2.0 Cables and Connectors Class Document[1], in particular, 4.10.7 Test Group '6'.
Why speculate when the USB-IF has made their standards both free and readily accessible?