Strictly speaking (not to be confused with strictly...), obfuscated code is any code that is more complicated than it needs to be. Even print reverse(reverse('foo')); is obfuscated.

Thanks to the Obfuscated <insert your favorite language here> contest, though, obfuscation has become an art form. So while Olly's code would never win the Obfuscated Perl contest, it's still obfuscated.