Is this a maze or a labyrinth? From what I can tell, the two balls only ever have 1 possible channel, which would make this a labyrinth.
It's a maze. Consider when the balls are in a dead end in the cog in the middle of the puzzle. Potentially, the balls may then be transferred to each of the four cogs touching this cog, hence there is a choice of which path to take. This means the underlying structure is not that of a labyrinth.