No this is a combo, i have done it before in matches.
After the B3, you need to time the d1 to land the same way that you would for a double jump kick combo / cross over.
Once they are just above ermac's head you can land the d1 into lift.
There is really no use for this other then how cool it looks.
The scaling on the combo is horrible, and to be able to land just a b3 on its own isn't the easiest thing to do.
Full combo would be :
B3 (1 sec pause) D1~TKS JK~tele dash 2~tkp.
I can test tomorrow to find the highest possible combo with this but this is what i know does work. I normally just use 2~tkp as the gravity comes into effect. But i think that 22~tkp is very possible.