It is Gore Active Shell, which properly and permanently waterproof, unlike a Windstopper/soft shell.
Gore Windstopper – not generic windproof fabric – is effectively waterproof, though it’s not usually taped so it’ll leak through the seams in time. The 7Mesh jacket linked above is taped, so for all intents and purposes, is pretty much waterproof, though with a lower hydrostatic head than, say, Gore-Tex Active.
That’s not the full story as with use, the membrane may eventually develop reverse osmosis through contamination and let water in, but taped Gore Windstopper (rare) and Polartec NeoShell are about as good as it gets for a combination of water resistance and breathability, though you’ll still out-sweat it if you run hot.
The Rab Flashpoint referenced above is a really nice jacket, but personally I prefer something more closely fitted on the bike, though that’s all relative to you own preferences and body shape.