No. In absence of a better term it is still called "hotwifing."
"Swinging" is an "ancient" umbrella term for non-monogamy coined when studies about human sexuality were introduced to a broader public audience in the late 1950s. It became almost fashionable (yet within a rather small population) during the "flower power" movement in the 60s and 70s, where it caught up negative connotation by "bigotted" American society. That was the reason why "the lifestyle" was suggested as an alternative term in the early 1980s, but that never came in fashion and is rarely used even today.
As human sexology has developed into a science including not only the physical-biological aspects but also including aspects of social science, more sophisticated differenciations have been made, and work in this field is still in progress.
More recent publications discriminate between...
* swinging ... sexual activities carried out with one or more "secondary" players (= who is/are not the "primary" partner) by one or both partners of a couple (with both of them present!) for a recreational purpose; an example would be a full partner swap with another swinging couple
* (half-) open relationship ... a relationship model where one or both "primary" partners is/are free to have "sexual relations" with someone else (not the "primary" partner), but with consent of the partner; in this kind of relationship the "primary" partner need not be present or even in knowledge of the partner`s sexual activities
* polyamory ... a relationship where one or both partners has/have one or more other partners on the side, with the defference to the aforementioned that any possible relations "outside one relationship" are not purely sexual/physical but also include some sort of romantic/emotional attachment
"Hotwifing" is not an "official" term thus far.
However it is acknowledged that a "cuckolding relationship" model exists that doesn`t fit any of the non-monogamous relationship models described above, in the way that it is...
* not swinging, because the motivations behind it are not purely recreational, but the fact of one or more "secondary" player(s) adds to one or both partner`s sexual arousal
* not a (half-) open relationship because it always involves both "primary" partners, if not physically then at least emotionally
* not (necessarily) polyamory, because the type of involvement with the (hotwife`s) "secondary" partner solely depends on the relationship dynamic (which means that some cuckolding/hotwifing couples are polyamorous, others are not)
The differenciation between "cuckolding" and "hotwifing" is rather new and has no scientific backup (thus far
)... but it helps those cuckold/hotwife couples who don`t identify (lifestyle-wise) with a situation where the cuckold takes on a more submissive role and sometimes is into humiliation/degradation of some sort.
Other recently introduced terms include "Stag" (for a non-submissive "cuckold") and "Vixen" (for the "hotwife"), both also being terms more appropriate for non-married couples as well.
{ Sorry for bad formatting.
i hope it`s reasonably readable though. }