Nope. He is stealing also from Ravendawn which is different game (they don't use Tibia sprites) and from Return of the Saiyans (they got own sprites of everything).
Anyway, the server looks promising. I've seen many OTSs using beautiful stolen assets to attract players and convince them to buy tibia coins, and other than that they had nothing interesting to offer. This project seems different. Lots of good mechanics. I hope you will replace all the sprites with your own soon after the release to make it a "new game".