Limited still means having a choice in what to bet. Trivial EV calculations can only tell you to bet or not, so I assume it's using something more involved.
Limit means fixed size betting. Typically 1 big blinds preflop and flop, 2 big blinds on turn and river, with a max of 4 bets total on any street.
The algorithm sounds like it basically identifies the path with the least negative EV for any given action, which is essentially how humans play limit too. "If my opponent plays perfectly, what path will let me lose the least or break even"
Indeed, "limit" by itself is shorthand for fixed limit. There are other limit games (such as pot limit and spread limit) where you do have a choice in your bet size.
The algorithm sounds like it basically identifies the path with the least negative EV for any given action, which is essentially how humans play limit too. "If my opponent plays perfectly, what path will let me lose the least or break even"