Officially, they call themselves that. But I wouldn’t equate them to a secular college. Michlala is much bigger than the average seminary, has people of all different backgrounds, and uses more of a inquiry-based (versus hashkafik) method. They are not catering to a “type” per se – their focus is on the learning. This produces a different sort of learning environment. The classes are also a lot less regimented. Outside of that, it’s not much like an actual secular college.
Disclaimer: I didn’t go there, so I don’t have firsthand knowledge. These are just the impressions I got from friends who went there/teachers who taught there. Feel free to add, disagree, etc.