Not at all; guava jelly is a jelly and guava paste is a paste.
They are totally different; however, a popular combination is guava
paste with a strip of guava jelly down the middle The jelly is a
jelly; the paste is more or less a seriously dessicated finla
product from a jam which has been really cooked down. (That's my
experience with the making of both AND the eating of both.) Side
point: on bread with cream cheese, spiced meat, and vin ordinare,
you got major human food! As a child in Cuba, I used to have it for
an afternoon snack on French bread with either cream cheese or Edam
cheese. Yummy!