Not quite, more a case that it's a fix for widescreen monitors. The objective is to get the same vertical fov as a 4:3 resoltion (so that the top and bottom of the view don't get chopped off), which results in the horizontal fov becoming larger.
Regular GLQuake sets fovx to the fov cvar, then calculates fovy from that. This version (1) calculates fovy
as if the resolution was 640 x 480 (and taking the fov cvar into account), then (2) recalculates a new fovx from the result using the correct resolution.
Hope that made sense, it's kinda hard to explain.
