Time lapse video, as the title suggests, is much more dramatic as a time collapse. But its not far off and the notion of time folding into, or between the frames could be quite an interesting term. All of them imply the dropping of steps or frames, quite beautifully.
Video shot and directed by by Jean Grimard Gauthereau on Vimeo. He actually also composed the music to with the clip. It is great and creates a beautiful ambient to go with the flow of the scenery. He has some more very lovely clips on his vimeo page, for example the 'Like a Dream'.