Basically, the center pin "soldering terminal" is a "cup terminal".
He could have heated the cup and inserted the cable into the hot solder, instead the cable is soldered to the outside of the cup. From the looks of it, it might be mechanically stable, and whats important, the little white ring which isolates center from ground does not seem to be compromised. In other words this looks to me like it should work.
I think 3 o clock setting should be way too loud with the speedball in place. Maybe the volume is padded down. Take some pics around the volume pot. Underneath of course.