I like it!
I don't think anything is struck between the dies and the coin and I don't see a cud. I just think that it being this far off center that the details of the center of the reverse were not getting the pressure needed to show the detail.cud
(From the Glossary here in CCF)
An area of a coin struck by a die that has a complete break across part of its surface. A cud may be either a retained cud, where the faulty piece of the die is still in place, or a full cud, where the piece of the die has fallen away. Retained cuds usually have dentil detail if on the edge, while full cuds do not.
I have also heard many years ago that the nickname comes from the blobs of raised metal resembling a "cud" that the cow chews. Sort of like a used wad of chewing tobacco you see on the sidewalk.
This is an old nickname that stuck for this type of error.