I used to go to a lot of black tie events but now only one annual one. In the last few years I've noticed quite a few women wearing outfits that I really wouldn't have classed as black tie dresses, so I expect the dress code is evolving to encompass a wider scope.
I don't think anyone would bat an eyelid at that dress but I wouldn't have chosen it for a black tie do, it just seems very everyday rather than a bit glitzy. I wouldn't feel dressed up in it and that would make me uncomfortable, with my DH wearing dress shirt and DJ etc. I'd feel he had put in more effort than I had! (So annoying that men get away with the same outfit every time...) Even with a sparkly bag and lovely shoes, this dress is a bit going-to-the-library rather than black tie, which is supposed to be a big occasion. To me, it is very basic and plain, sorry