No, this ether belongs to our private test blockchain, where you can use it for example as an Android app developer to work with our API: https://github.com/p-acs/ethereum-android-lib
Every blockchain has its own sort of 'currency' in order to function, which can only be spent on its associated blockchain.
The Bitcoin blockchain has Bitcoin, Homestead has Ether and as we work with Ethereum based blockchains, we call our test currency test ether :)