IMO yes, in that both refer to the angle of the drive in relation to the transom. I'd say the difference is that trim is an angle adjustment while underway and tilt is an angle adjustment with the engine off.
On the OMC's and larger yamaha's, there are two pins for the "trim" part and then the main single hydraulic for the rest of the way up. The pins are there to work against the force of the running motor at high speeds. You can still run with the motor on the "tilt" part but you would only do that in shallow water and therefore low speed. But my 50 Yam only has a single hydraulic.
