After looking into this, it appears that CommanderC is half right. Against poison damage from poison arrow (as opposed to poison status), the new formula is a straight buff -- 100% chance to apply 66% protection from the poison component of poison arrow in place of 100% to apply 50% protection from the poison component of poison arrow. There's also a 66% chance to 100% prevent the poison status from poison arrow, down from 90% chance to prevent 100%.
Against other poisonous attacks including venom bolt, sting, and poison spit, and the poison status, including the poison status from venom bolt and poison arrow and from things like adders, there's a 66% chance to apply 100% protection instead of a 90% chance to apply 100% protection.
I'm discussing this with other devs right now, because I don't believe that having only a 66% chance to apply 66% protection against venom bolt's damage was intended.
Edit:
Aaand fixed:
http://s-z.org/neil/git/?p=crawl.git;a=commitdiff;h=f7792b8842e3. Thanks, CommanderC!
Edit: correction, CommanderC never addressed poison arrow.