Hearsay is an out of court statement used for the truth of the matter asserted.
The alleged statement was made by her out of court and is being used in court for the truth of the assertion she wanted to die. Thus its hearsay.
It is not a verbal act. An example of a verbal act would be someone agreeing to the terms of a contract--i.e. accepting an offer. Or another example is a defamatory statement. The defamatory statement itself is the harmful (verbal) act.
It's a statement not for the truth (whether she meant it or not) but a statement that Michael Schiavo relied upon to make his decisions regarding her care. That's what he testified to, that's not hearsay. There was other testimony on the subject that impacted the judges decision