The  yellow appearance of this Echinofossulocactus is more precisely caused by another aberration called  "schizochromism". Here, though, the specific green pigment (chlorophyll) is missing: every other pigment is present at normal levels, the dominant green colouration is lost, but will still more than likely have normal other pigments that give the yellow overall appearance of stems and the red colouration of spines.  

Albinism is a genetic aberration where there is a total absence of  pigments. An "albino" plant  therefore is one with no pigment whatsoever, it will have totally white stems or leaves.