Most likely. I saw my corollas timing belt at 177K miles and it was even discolored on top of being cracked like yours. Use OEM or Mitsuboshi (OEM) supplier belt only. Get an Aisin timing belt kit. I installed a gates belt in to my corolla and at 50K miles 6 years later I saw several cracks on the belt.
This makes me really want to check mine. I have 211k on mine and I don't know when it was changed last. No sticker anywhere. Think i'll pull the cover tomorrow.
I would definitely change that ASAP. Before you know it you'll forget about it until it leaves you stranded. I did mine at 203k and I couldn't believe I waited that long. Pretty sure it was original. Always good to have peace of mind that its done and you don't have to worry about it for awhile. Yeah as tim said you are most definitely on borrowed time literally!
I'm going to get it changed asap when i get the lower ball joints situation sorted out first (also original at 220k). Theres very little record of the truck being in the Toyota dealership.