According to Wikipedia it does not seem to be what the Ring Modulator plug-in does.
Ring modulators frequency mix or heterodyne two waveforms, and output the sum and difference of the frequencies present in each waveform. This process of ring modulation produces a signal rich in partials, suitable for producing bell-like or otherwise metallic sounds. As well, neither the carrier nor the incoming signal are prominent in the outputs, and ideally, not at all.
A ring modulator is a tremolo effect, but instead of using an LFO to amplitude modulate audio, an audio signal is used.
But for a “Tremolo” effect the incoming signal is most definitely still prominent - so what should this effect by David Sky be called if it’s not a Ring Modulator?