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 Quote by f95toli No, it it not used at all as far as I know. Although presumably you could across is it or something similar if you were reading academic paper that deals with the "philosophy" of QM and modern physics (and I don't mean interpretations but really philosophy), but that is not really physics (or science).
Interpretations are really philosophy. "Observer effect" isn't a technical philosophical term I've ever come across before though.

For examples of academic philosophy on QM see any of the papers on http://www.princeton.edu/~hhalvors/papers/.