Interesting about the name Phil. Bound to be regional variances. I got mine in Mumbai and they called it a 'spice tin'.
As regards freshness, I've not seen an issue. When I first got this one, I filled one of the containers with water and turned upside down. No leak, seemed air tight. A screw top will always be best but this set up is convenient and works for me. My pantry is filled with a frankly ridiculous number of spices for the times I need those lesser used Pav Bhaji masala, chaat masala, byriani masala, tandoori masala, etc etc
Hmm, fancy making Pav Bhaji now....
Robbo