The fix seems perfectly reasonable. As Tom said, it would probably be very hard to break just the b1 grab still simply because the following 2, 1, 2 happens so fast. Online the combo is very hard to pull off anyway due to lag. You need a pretty lag free game to do it.
Cyrax will still be in the top tier of characters for a couple of reasons. First, you can still do the command grab bomb reset, it's just easier to break, and because catching someone with a command grab will still yield a pretty static meter advantage for you (at the least).
Cyrax still has some very good combos without using any scaler resets or double nets as I discovered yesterday too. The best one requires one bar from your meter, but my god the damage is worth it.
jump punch, BP, FP, f f BL + BK, f f BK, Uppercut (or BP, BP), b + BP, dash, FK, FK, b b FK, FK, FK d f FK, FP + FK.
The timing is pretty tight on the last fk fk ragdoll, but you can pull it off or just use one FK before doing the ragdoll. I've gotten it to do 58%
You can also just choose to skip the net and go straight for the ragdoll depending on how close your oponent is to the ground after you juggle them. It should be noted however, that I've also seen the opponent bounce off the ground before the net hits them, which ends the combo and allows you to just dash in and follow everything up with the command grab bomb reset or do the same combo again provided you had at least 2 meter bars.
I'm not sure if the net timed that way is blockable, but if it's not, pulling the combo off this way will kill your opponent from full health if there's no lag and they don't break the grab, and using the same combo twice instead of the command grab wouldn't even matter pre or post patch..