No, there is no load balancing involved. It's a new trend that is now widely used in "cloud" systems. The VPS is stored on a storage server and connected to two Nodes via iSCSI fiber link. If one of the nodes goes down (primary one), the virtualization software like hyper-v or vmware, will move the VPS to the other node. It usually takes 5-10 seconds because the actual VPS machine is on the storage server.
So it's not load balancing, rather new way of fail-over.
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