It still does, or at least the description says so. Previously I believe it completely wipe TP to 0 (Like that gigatoad skill), but now it's more like TP bleed by fixed amount.
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Anyone able to tell the difference with speed surge on? using Champions Lance and I really cant tell.
I've always been partial to Life surge; call me crazy I like landing hits. Doomspike II + Life surge does major damage. Plus all your party member's will see the effects of Life surge so overall damage will be increase due to more hits landing.
Would love to see some parsed data on this though; be nice for comparison.