Actually, yes. He's giving in.
Jumping is one of those things that you really have to outlast the dog in, because any sign of attention only reinforces the idea that jumping works. The dog wants attention and he's figured out that if he jumps long enough or makes enough noise, he'll get it. Even if it's in the form of yelling or scolding, it's still attention.
Your friend is going to have a pretty long wait ahead of him, because Aussies (I have one) are notorious for jumping as greeting. The dog is also going to get even more frustrated, because what he's doing has worked for so long and now suddenly it doesn't anymore. Think of it like a pop machine. You put money in, press a button and out comes your soda. Then one day the machine eats your money. What do you normally do? You hit the button a couple more times, probably with more force than necessary and swear at the machine before giving up. But you will come back and try again, because you've always gotten a soda from it before. Except the next time it again eats your money. Maybe this time you progress to trying to rock the machine. Eventually you give up and you never put the money in the machine again, because obviously this one doesn't work right.
So the dog will probably throw a loud fit and jump more forcefully, possibly even nip. Your friend just has to be a statue who has a couple treats hidden in his hand. At some point the dog will either just stop jumping or sit down to figure out what's going on. At that point you can "jackpot" the dog with praise and treats, though if he starts jumping again, back to being a statue. You want the dog to learn that sitting is what gets the best attention, not jumping.