Yes, that is industrial ink, to print packaging mostly.

The ink there is probably custom made, you send the factory the material that you want to print on, and the moustached dude (the guy that is very fast with two spatula) will figure how to get the colours the designer wants on the material, and then they make the ink needed to mass printing on that material.

I've made a arcade machine once: http://tinyurl.com/cnv4h88 it took very hard work to get the colours right on the cabinet (and they actually, are still not right! they are just "acceptable" and I had ran out of money to do more experiments).

Each material reacts very differently to ink and paint (the arcade cabinet is partly painted, partly printed), and the results vary a lot without testing.

Note on the video how he says that after some testing, they add wax for example, this is a important part to make the ink reach some sort of desired effect on the material, maybe the material is think and will be crumpled (like candy wrapping or a t-shirt), then you need a very thin ink, that will not break, or a thick but flexible ink, that will stretch out as needed before breaking. But you might want to print on a very hard material (for example a plastic marquee) then you might prefer a ink that sticks very well on the material (try printing on metal...) and that is resilient (what happens if someone throw a rock on your road sign?)

I always has been a coder, but I would never figure when I went to design school (I am bachelor in design now) that I would find it fun :)

That's correct. You can find this sort of ink in squat little tins in the right art supplies store, if you ever wanted to do any printmaking yourself. (A local arts institution may offer courses in intaglio or letterpress. You also get to use some really nice paper.)