No, the issue isn't complete. Most of the recent work has been in the core LOB implementation in the embedded driver. Some work has also been done on the client implementation.
The question is more whether it will ever be fixed in the near future, or if we should resolve it as either "Later" or "Won't fix".
Rewriting the Clob implementation in the client driver could very well boost maintainability in the long term and result in increased performance, but at the same time it is likely that new bugs will be introduced (despite our test suite). We may also need some substantial changes in the client/server communication. To me, it sounds like these changes should go into a new major version release (i.e. 11.0).
If nobody objects, I'll set the affects version to 11.0, and resolve the issue as "Later".