[200nl] raylapsley observed hand, is his bluff here +ev?

[Grinding2Ecstasy]

I have heard several people state that ray is an excellent, feared player at 1/2. Tell me what you guys think of his very unconventional play in this hand I mined today. Is his Criver shove psychotic or brilliant?

Full Tilt Poker No-Limit Hold'em, $2 BB (6 handed) Hand History converter Courtesy of PokerZion.com

saw flop|<font color="#C00000">saw showdown</font>

<font color="#C00000"> CO($234.40)</font>
Button ($242.60)
<font color="#C00000">Ray ($198)</font>
BB ($185.40)
UTG ($200)
MP ($221)

Preflop: is with , .
<font color="#666666">2 folds</font>, <font color="#CC3333"> CO raises to $6</font>, <font color="#666666">1 fold</font>, Ray calls $5, <font color="#666666">1 fold</font>.

Flop: ($14) T[img]/images/graemlins/diamond.gif[/img], 7[img]/images/graemlins/diamond.gif[/img], J[img]/images/graemlins/spade.gif[/img] <font color="#0000FF">(2 players)</font>
Ray checks, <font color="#CC3333"> CO bets $10</font>, Ray calls $10.

Turn: ($34) 8[img]/images/graemlins/heart.gif[/img] <font color="#0000FF">(2 players)</font>
SB checks, <font color="#CC3333"> CO bets $20</font>, <font color="#CC3333">Ray raises to $66</font>, CO calls $46.

River: ($166) 9[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(2 players)</font>
<font color="#CC3333">Ray bets $116 (All-In)</font>, CO calls $116.

Final Pot: $398

Results in white below: <font color="#FFFFFF">
Ray has 7s Kd (straight, jack high).
CO has Qh Jd (straight, queen high).
Outcome: wins $398. </font>