It does not matter whether it's their own creation, or what it's named. What matters is this, from the ACBL General Convention Chart:
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Disallowed: Psyching of artificial or conventional opening bids and/or conventional responses thereto. Psyching conventional suit responses, which are less than 2NT, to natural openings.
If these bids are not conventional [or artificial - ER], it is permitted to psych them. What is "conventional", though? The GCC doesn't define the term, though it uses it. The GCC says
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An opening suit bid or response is considered natural if in a minor it shows three or more cards in that suit and in a major it shows four or more cards in that suit.
By that definition, these bids are natural. The ACBL Alert regulation defines "convention" as
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A bid which, by partnership agreement, conveys a meaning not necessarily related to the denomination named or, in the case of a pass, double or redouble, the last denomination named.
This is essentially the definition that was in the 1997 Laws, and which is not in the current laws because, I believe, the lawmakers found it too confusing. The Bridge World defines "convention" as
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an understanding between partners that would not ordinarily be understood by the opponents in the absence of an explanation.
By the Bridge World's definition, these bids are certainly conventional. By the Alert Chart definition they are probably conventional. If that is the case, then psyching them is not allowed. However, there is a bigger problem: when they have exactly five cards in the major, "some distribution" implies at least four cards in another suit, and such an opening bid is legal only if the second suit is known.
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GCC, Opening Bids, Item 6: OPENING BID AT THE TWO LEVEL OR HIGHER indicating two known suits, a minimum of 10 HCP and at least 5–4 distribution in the suits.
Because of this, I would rule this is an illegal convention. So not only can they not psych it, they can't
play it.
Addendum: I note that the GCC prohibition on certain psychs disallows psychs of "
artificial or conventional calls". The Laws do define "artificial":
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A bid, double or redouble that conveys information (not being information taken for granted by players generally) other than willingness to play in the denomination named or last named…
Since these bids convey such other information, they are artificial, and again, not allowed (because the implied second suit is not known).
Addendum 2: I found a
web site that apparently describes this convention, but it's in Norwegian.