Yes, that's the system that the BBC wants to replace teletext with. As far as I know, it has not been implemented in any other country. I haven't seen much of it, but my impression is that it doesn't offer enough additional functionality over teletext, so other countries just stuck with that; for new functionality, it has basically been overtaken by the internet.
In Japan we have the "d button" with similar services - weather, news headlines, and for some shows dedicated program information and interactive services like voting. Of course they use a home-grown standard called BML
"The STD-B24 specification is derived from an early draft of XHTML 1.0 strict, which it extends and alters. Some subset of CSS 1 and 2 is supported, as well as ECMAScript."
When it works it's really good, but that's for one specific thing at a time - Olympics or Glastonbury for example. It's a shame really, someone in one of the other comments mentioned split-screen with TV and teletext which I think is ideal for some things (eg football, for me), and red button stuff just isn't as simple, or give anything like the same consistency
