The SVT is the "Special Vehichle Team's" version of the Contour. They are a small division within Ford that handles special performance versions of Ford cars. They are most known for their Mustang Cobra (in partnership with Team Mustang) and F-150 Lightning pickup truck. They have also recently done the Focus. Basically, their cars are faster, more luxurious, better handleing versions of the factory car. They are also produced in limited numbers.

The SVT Contour is then based on the Ford Contour. The Contour was produced here in the US from the mid-90's to about 1999. There was one major "facelift" during this time. As you suspected, the Contour was based on the European Mondeo. This version is after the facelift and could probably be called a Mk2. Ford's sister brand "Mercury" also had a version in the US called the Mystique. The Mercury Cougar (or Ford Cougar in Europe) is also based on the same platform.

Although a good cars, the Contour/Mystique did not sell well. They are too "European" for American markets. What I mean by this is that Americans typically like "large" cars and they could get a Ford Taurus, a larger car, for nearly the same price. The Contour also suffered from loud road-noise. The only current US vehicle based on that older platform Mondeo is the Cougar and that will only be produced for another year or so.

Interestingly enough, Ford is looking to bring the current Mondeo to the US. This is because the American car market is maturing a bit, the Mondeo is significantly improved and the Taurus is getting the axe soon (so there will be less overlap in the US Ford line-up.) Another reason is that Ford is suffering financially in the US (which is nothing new in Europe for Ford, but very unexpected in the US where it used to be the most profitable US car maker) and bringing an already designed car to the US will be cheaper than designing a new car from scratch. GM is making a similar move by bringing the Australian Holden to the US as the next Pontiac GTO (complete with Corvette engine!) A final factor is that Ford VP of design is J Mays who used to work for VW/Audi. Since the current Mondeo was winning praise for having beat the Passatt in "best in class", it is no surprise that he has taken a liking to it.

So, to answer your question: Yes, it is a Mk2 Mondeo - but more like the Mondeo ST200.