For me it would be an unequivocal no.
A lot of that unequivocal stems from the things mentioned by Ascalaphus in his post in the thread linked by blahpers above.
I no longer have my copy of the old AD&D PHB but one of the saving throws characters had way back then as a column header (near as I can recall) something called 'PPD' aka Poison/Petrification/Death and just about everything that picked up the death descriptor was something that in those days would have fallen under that column. In those days there was no damage if you made the save ... you just keeled over dead as a doornail if you failed. Very much all or nothing magic. The bias I have behind the unequivocal no largely stems from those days many years ago when playing. Almost more of 'I know death effects when I see them' in the way some folks might describe pornography when they see it.
Again pretty much unsupported by any rules but generally I consider such things 'dark' magic and while not necessarily evil it is definitely skirting a line that good folk shouldn't.
In other words a Lawful Good monk can use it therefore it is not 'death magic/death effect' And the punch line is I've no recollection if the original Quivering Palm fell into the PPD column or not.
Maybe they'll codify it in some edition down the line and I'll get to decide whether to modify my outlook on what exactly qualifies.
One question you do need to decide is if Death Ward protects against it or not and again my guts say no. If you think Death Ward blocks it then your own answer should be yes.
