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It's a very distinct and verbose way to name 7th chords that is derived from classic theory. I'm not sure if it has a name or even needs a name as there's always more then one way to name chords for example some people use Co7 to represent a fully diminished chord and some people use Cm6b5 to denote the same chord and call it that. I'll refer to it as 7th ...
I don't know if the major-minor thing has a name, but the idea is to dissociate the actual intervals from the tonal function. Calling a chord a "major minor seventh" is simply describing the chord without any context, and calling a chord a "dominant" chord is describing a relationship with the tonic. In the kind of Classical music that is typically used to ...
To call such chord a Dominant surely saves time and it is practical thing to do when your theory knowledge is strong. However the "major, minor 7th" perfectly describes all the intervals -omitting the fifth- and it is a more straightforward approach to chord learning.
My best guess as to the intention of this notation would be that the entire grand staff is being transposed down an octave. As I'm sure you know, the treble clef on its own places C5 on the third space. The C clef used for alto/tenor clef is meant to be centered upon C4, or middle C. So, the fact that a C clef is centered upon the third space of the upper ...
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