We could argue about what constitutes an overclock, also. Sure, they might not have exceeded the max freq that the chip can run at, but if 99.9% of the time it runs at one freq, and then in a few specific circumstances it gets clocked higher, isn't that by definition an overclock?
A quick note on "overclocking": there is *technically* not a "maximum" speed of a processor like this.
The chip's speed is determined by the maximum speed that they can run these things at and keep them stable and cool. This is why "overclocking" is possible. When you overclock the chip, all you're really doing is running it above the speed that the manufacturer determined it would perform at reliably.
Now, if Samsung has determined that the Exynos only runs cool enough or reliably enough at 480Mhz, but lets benchmarks briefly bump it up to 533Mhz, then that is most definitely "overclocking" by the intended usage of that term.
It's one of those kinda gray areas, simply because it's not being actively done by a person to make the chip run faster than the advertised clock speed but, if that's not the "normal" speed of the chip, it still seems like overclocking to me.