I have to aggre with Shadow. Combat Cloak seems to work like before, aside from the adjustment to damage I can't say it feels different enough to suspect a change. The change to damage also seems small. I typically see "ticks" in the 700's from my level 8 plasma beams when out of cloak, and "ticks" in the 1300's when striking from combat cloak. My feeling is that combat cloak damage is about 180% of none cloak damage, or 10% less than double.
When it comes to damage mitigation, I have to disagree with Kyp. All damage can't be calculated at the time a weapon is fired, at least not for damage over time type of damage. Those typically only get one "tick" if you cloak after the weapon has been fired but before the shell hits, so here some kind of check has to be made for each "tick".