I've seen this style referred to as neo-grunge. I agree with that a lot more. It's grunge influenced for sure, just tweaked and mixed with modern style.
What I love about this style is that it's a combination of SO many things; a complete tossed salad of already existing subcultures. Look carefully: goth, punk, retro, girly style, ...and grunge.
Who's a perfect poster girl for this look? Everyone's favorite alien model, pink haired princess- Charlotte Free.
(all pics via grunge-style)