Well, by the new SWMGPA floor rules it's as "official" as anything else. Here's the section about officially sanctioned events:
Quote:601. Format Categories
The SWMGPA sanctions any format in which the tournament contains four or more sanctioned SWMPGA members. The ranking will be broken up into two areas:
Limited:
∙Sealed
∙Booster Draft
∙Any format that restricts the allowable sets/factions to draw figures from (V-Set only, or Sith/Mando/Vong only)
Constructed
∙Any format that does not meet the Limited prerequisites.
So I'm not really sure what you mean by "official". Yes, the 500 point Epic format (500 points, 16 max activations, requires 1 mini from the Epic set, sometimes with a CE limit) has become pretty popular, and fits under "Constructed" in the floor rules so it could be reported as such. That's about as official as anything is.