No - it sounds like someone trying to sing as Bono and Morrissey. It's not a bad impression, but when he gets Morrissey-esque, you have to severely doubt.
Update from atU2.com:
There's still no official word on who's singing this new INXS track. We've contacted U2's PR team for information, but have not had a reply yet. In the meantime, a Spanish INXS fan blog is saying that the singer is Rea Garvey, though there's no source listed. There are also two separate posts on the official INXS Facebook page in which fans there are also saying that it's Rea Garvey. If you're not familiar with that name, Rea Garvey is the lead singer of Reamonn, a band that's been around for about 10-12 years and has had success in Europe. Though the band is based in Germany and four of its five members are German, Garvey was born and raised in Ireland and would fit Andrew Farriss' description (above) of an "Irish bloke." Garvey is currently said to be on a break from Reamonn and working on solo material.
If it's not Bono (and I'd be having a buck each way on that) it's someone really imitating his vocal tics. Compare this to something else recorded live in a small room recently, like the Islington surprise show bootleg, I think there are enough similarities to make it possible.