ESP87... could it be that you are thinking of a 'Derry turn'? After, I think, John Derry. I believe it consists of a 3/4 roll and hard pull back on the stick when in 90 degree bank opposite the rolling direction. A Derry turn is however not done with negative g's, as the manouver at 5:04. Edit: It seems I was wrong in my belief... according to Wikipedia.
@Always Reading you just guessing about me!!!!. Even if I didn't like the Grippen it doesn't actually mean I dislike it. I love fighter jets whatever the roundel on their airframe. For me airshows are meant to awe and amaze the aviation oriented audiences. I'm fine with that. But mainly I think air shows are meant to expose aviation technology breakthroughs and aircraft strenghts. I don't think this actual air display is exposing the Grippen strenghts in the sense of handling and air maneuvering. This is just my opinion. My country's air force has Typhoons and I'm not a big fan of it. Think there are better aircrafts out there. But in the end it's just my opinion in a sea of personal opinions and outlooks. P. S. : I miss dearly the Viggen.