Yes it is. If you don't like the snap-xxxxx you can change that in SRM Advanced Settings. The snap-xxxxx is enabled by default.
We are currently using RecoverPoint v3.4 in a VMware v5 environment w/SRM. I have a disk that shows up under the ESXi datastore as SRM-Test. When I initiate a failover using SRM I can see that a disk labeled snap-xxxxxxxx-SRM-Test gets added to the ESXi datastore at our recovery site. When I do a recover again via SRM, I do not see SRM-Test get mounted at the local site, I see snap-xxxxxxxx-SRM-Test mounted. Is this to be expected? 
Datastore name (VMware v5 / SRM / RecoverPoint v3.4)?