Yes, that is the POST nerf damage. There were several rounds of nerfing. The value that GC is talking about here is the post nerf damage.
For example, When 4.0.1 went live my SWD was critting for 21k. Then there was a nerf and it was only critting for 17k. Then there was another nerf to the damage above the 25% mark, where now my SWD crits for 3.6k...but still crits for 17k when in execute range. (So you see that what GC meant by "full" damage is the damage after the FIRST nerf.)
Side note: Mind Blast also hits for about 20-25% less than it did when 4.0.1 went live.
Side note #2: Devouring Plague hits for about 15-20% less than it did before 4.0.1 went live.
Side note #3: SWD now hits for less than HALF pre-patch numbers when target is above 25% health.