Yes, it does. Seems to be the case with quite a few of the episodes that have recently been fully guided with images.
It's ironic that Big Bird comments that Snuffy didn't use to be so hard to find when he was in his normal big size. Considering the street scenes are from season 17, it's amazing that Big Bird seemed to already forget about how it used to be so hard to get all the others to see Snuffy for so many years (and the young audience would have likely still remembered Snuffy being "imaginary").
Then again, the original episode doesn't have a full guide yet, this one coming from video footage of the repeat. Maybe there is a line that was cut or redubbed for the repeat, as audiences would have been more likely to forget about Snuffy being thought to be imaginary.
Another possibility is that the episode does have some kind of mention of Snuffy's "imaginary" past and it just isn't noted in the guide.