Um, no. Actually, that's the Sabre Backpack in Frostfall, as far as I can tell. Chesko is also working on Arsenal, which will allow the player to see yet more items/weapons on the player.
http://www.gamesas.com/topic/1373328-rel-frostfall-hypothermia-camping-survival-thread-3/page__hl__frostfall
http://www.gamesas.com/topic/1374311-wip-arsenal-visible-weapons-and-stowable-shields/page__hl__arsenal
Thanks guys, I found the standalone mod here http://skyrim.nexusmods.com/downloads/file.php?id=13687
It doesn't show what weapons you have on you, you have to craft the bag and kit using what you see (torch, axe etc)
