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Yep, that's Omegas way of showing that it has a 20 Microns thick gold plating. It's a very decent gold plating, thicker than you'll find on most 'fashion' watches.
I wouldn't go as far as decent. 20碌m (or 0.02mm) It is the minimum seen on Omegas, other plated models have used up to 80碌m. The thickness of the gold layer on the gold capped models is more like 200碌m. It used to be suggested by pocket watch makers like Dennison that a micron lasted for a year of wear so 20碌m was a 20 year case. This watch is now 40 years old (but presumably not worn every year!) so could be assumed to be fairly worn and indeed the lugs look pretty brassed.