No, it's ECL +2, which, since it includes 2 RHD, is equivalent to LA +0. That's how it was written in 3.0. Races didn't differentiate between RHD and LA, they just gave it to you as one lump sum. I remember seeing some races somewhere that even had ECL modifiers less than their total RHD, which would mean a negative LA in 3.5 terms.
Personally I always thought the differences between LA and RHD never did make sense. Like one that takes half dragon with LA +3 but no RHD. Yeah they have all these nifty abilities, but oh no, you sneeze in their direction and they're dead. Starting ECL of 4th, but as a lvl 1 character, means you've pathetic HD. I've always ruled it as being whatever the LA is, that's how many RHD they get, otherwise, the entire LA/RHD system is broken in a bad way, not a good way.
I like this idea. How does it work normally? (My group has a running ban on anything with RHD since nobody understood them)
Normally, both RHD and LA count towards your character level when determining your ECL (and thus how much xp you earn and how much it takes to level up). However, RHD are like actual character levels in a class with no class features (you get HP, skills, BAB, and saves according to your creature type, and they count towards feats, skill rank maximums, not dying to Cloudkill, etc.). If you only have 1 RHD at character creation, you can even trade it in for a full-fledged class level. However, if you have more than that (2+ RHD), you're stuck with them, and they come first before any class levels so your low level feats can't use your class features for prerequisites (since you won't have them yet), and it's your RHD's skill points that are multiplied by 4 at 1st level, not your first class's skill points. Some things with enough RHD can get you high enough level to meet the prerequisites for some PrCs, letting you skip taking base classes entirely.
LA is just a blank, where you get nothing (no HP, skills, BAB, saves, feats, max ranks, etc.). On the other hand, you can buy off your LA if you use the rules in Unearthed Arcana, which involves spending extra experience points at certain levels (the exact nature of which I kinda understand, sort of, but not well enough to explain).
Neither LA nor RHD count against you for multiclass penalties if you use them. You could have, say, 10 RHD, +5 LA, and 1 level each of Fighter, Rogue, and Wizard (not that you should ever do this), and you'll still get your full experience, albeit only the experience that a level 18 character would earn.