An icebox cake is traditionally made with wafer cookies and whipped cream. The cookies absorb moisture from the whipped cream and soften during refrigeration. I assume the "cake" layers in this recipe are meant to come out thin and flat like wafers rather than light like a cake.
I don't believe it is -- the recipe was based off this Martha Stewart ice cream sandwich cookie, which also has no leavener: http://www.marthastewart.com/315819/classic-ice-cream-sandwiches
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