Yes, it is that one day of the year, or rather, that one day that happens once every four year.
Or, as some people seem to keep calling it, Leap Year.
Personally, I think it is just one day, so it has to be called Leap Day, although I was surprised by how many people seemed adamant about calling it Leap Year. Does that mean that went it ends and March 1st comes, that it is another year?
In any case, I just figured that an event like this was worth mentioning here, as it only happens once every four years or so.
So, for what it's worth, Happy Leap Day and Year!