What leads you to believe that that doesn't count as an approach by FAA
standards?

Guess I needed correction :-)

For actual conditions, you don't have to go to minimums, but you must
be IMC when you initiate the approach. For simulated conditions, you
*should* go to minimums.

Taken from #4 at
http://www.rodmachado.com/Articles/L...light_Time.htm

ANSWER #4
Greetings Terrance :
In the May-June 1982 issue of Flight Forum , the FAA said, "...In order
to log approaches toward IFR currency, the approaches must be carried
at least through the so-called critical elements. This could include
conducting the approach to a landing, to the minimum altitude and\or
missed approach point, or through the approved missed approach
procedure."

In regard to breaking out from IMC to VMC on the approach, here's what
the FAA had to say in their July-August 1990 issue of Flight Forum .
"...Once you have been cleared for and have initiated an instrument
approach in IMC, you may log that approach for instrument currency,
regardless of the altitude at which you break out of the clouds. When
doing a simulated IFR approach you should fly the prescribed instrument
approach procedure to DH or MDA to maximize the training benefit."

Since you didn't begin your approach in IMC, you can't log that
approach towards meeting the instrument currency (recent flight
experience) requirements.