Only change I've noticed it that it has an initial burst of damage, then a few seconds later it has a second one when the green bubbly things explode. It hasn't been bothering me any, I thought it was actually a little better. I haven't done any calculations, so I could be wrong, but again it doesn't bother me.

I have found myself disarming it or just keeping it as a secondary weapon to keep the set buffs. I think a standard Pulsewave Assault has a more useful secondary fire mode anyways.

Tossing the grenade gets an explosion on impact, but with the PWA launcher you see a burning fuse after impact, about 3 seconds. Launch a grenade and fire the pw to keep the targets from walking away until the grenade detonates, by that time the other grenade cooldowns will have expired so a tossed grenade should finish off the bad guys.

Gimped ? I dunno- never used it pre-s7 but I think it should explode on contact also, and not share a cooldown with thrown grenades but I've learned to live with the 'new' way the weapons work.