I don't remember anyone saying this term before, they were saying Tropical Depression or Wave.
Its been a term for a long time. The NHC has officially used the term since 1972. Subtropical systems tend to be much weaker than tropical systems and few progress to the point where they receive names. The systems can also transition into tropical storms.
Hurricane Gustav of 2002 was the first Subtropical Storm to receive a name but became tropical shortly after naming. Subtropical Storm Nicole, from the 2004 Atlantic hurricane season was the first subtropical storm that did not become tropical since the policy change.