I did some tests and my conclusion is still that it's unreduced, unless there are some really subtle difference between it and the S-Rank.
As for what happened in Spuz' tests, note that CCA creatures have 910~1000 EVP, and not even 80h Guilty Light can hit it reliably with special attacks. From what I noticed in the tests, making the Launcher shots pass through the enemies you want is also rather difficult -- the shots seems to bounce off often, or something.
I must've skimmed it then, I missed the fact he was doing it in CCA. I was basing my thoughts on him going up against Barbles, Vulmers and such
That changes things... with an SSS combo putting 367 ATA against 1,000 EVP:
1) 0% (-16.5%)
2) 38%
3) 100%
The grunts here will cause Blizzard to hit its cap of 60%
This means that the odds of freezing would be :
1) 0%
2) 22.8%
3) 60%
This means that in a single combo, there is 69.12% for a successful activation on a single enemy, and 22.82% of freezing 4 enemies. With those odds, you're talking an average of 5 combos to freeze an entire group of 4 enemies. Even then, there's enemies with around 1,000 EVP and higher ESP, so the chances would be lower still. Interestingly enough though, a 50 hit Snow Queen would have 51% chance of hitting a 1,000 EVP enemy. However, the odds of hitting 4 enemies with one shot is 6.76%; but Rifles are reasonably quick, so you could fire a couple of shots in the time one Guilty Light combo takes.
Okay, you've convinced me that Guilty Light is unreduced.
As for the bouncing shots of the Launcher... it's one of the few times where your character height actually matters. If you're too tall, then firing at a close enemy will cause you to fire down in to the hitbox, leading to the launcher bullet dissipating in the ground. As for the SNS; it's not really doable. The Launcher doesn't have quite enough range for how slow the weapon is. Phonon Maser could maybe manage due to the slow bullets, but the special there is Havoc rather than Chaos, so not as useful.