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Plasma almost appears to be an FMJ frame, but it isn't.  Instead, it resembles Metallic Sand, but with more of a "silver" hue.  Oakley seems to have created this specific frame just for the Gold Iridium lens.
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I have it on Mag Fours.  Great color, looks awesome with Fire Iridium.
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Hard to say what "Plasma" is when looking at the X-metals.  The first Juliets had a plasma that was a matte-gold color (that had major issues with flaking and discoloration), which changed significantly by the 2nd gens.  The Ice 2nd gen became a darker brushed silver, and the 2nd gen fires (the rarest of the plasmas) took on a brushed bronze look.  After, all of the plasmas became a brighter brushed silver - which is still in use today.  I would have to say that "Plasma" only applies to the first or Second (fire) generations of the Juliet line, since they have the gold-tint to them.  The others should have just been called "silver", or something to that effect.
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Have this on my Splice's. It works with the Gold lens, but not on much else. 
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Really nice color option for Half Jackets.  I would prefer pearl but it does give the look of a Plasma Juliet.  Plasma frames look good combined with the ice and gold iridium lenses.