Sure. I use this technique regularly with my wine making. It is the only way to remove the juice without disturbing the sediment at the same time.
And while this feels similar am not sure it's the same thing. I suppose you could say it is a syphon in a vacuum, activated not by our sucking on the pipe but by the action of turning on a tap in the house.
Water isn't H2O? News to me! Will check it out...
Thanks ;)