I believe that is correct.
On a side note, i love that this is a thing that gets discussed in all seriousness on this website.
Why wouldn't it be discussed seriously though? :-) What I find more interesting is why developers bother with - ON PURPOSE - giving certain characters flabby butts. Just imagine how the talks goes around the meeting table:
Why does Batman have a sixpack in Arkham games? It doesn't appeal to me as a (heterosexual) man but it's still a concept in games (though without a wiki page).
Don't take the following personal.
I can't help but notice that this thread is your first thread after an extremely unsensitive first post? Maybe you need to reconsider the effect of what you write from other people's perspective? I'm not going to defend the Giant Bomb community but they like Japanese games a lot. Those games have many defining concepts of animation for the history of games that originate in a different culture. Maybe stop to think: isn't it ethnocentric to consider foreign cultures offensive?
Think of wiggle contra jiggle as animation of an action contra reaction respectively. Wiggle is animated when the player presses a button and jiggle when the player releases a button. For another type of jiggle see: Breast Bounce