I can also confirm this. Everything seems to work sans the cooldowns.
Sorry, was referring to the hotfix on the backend related to the Skill changes. A person on the prior page said they would see if it still worked.
Yeah, the fast cooldowns option no longer works, which seems odd as I don't think they pushed a client-side update between now and when it was working last. They really need to spend less time worrying about single-player cheating in a PVE game where you can't trade loot with other players, and more time fixing their connection issues and end-game play balance.
To be more specific - fast cooldowns does activate, per the trainer, but the cooldowns no are no longer reduced to under a second - they remain at their full length both in-game and in the skills screen (skills screen reports full cooldown length where before it would show 0.5s or the like).