No, it's censored, just like the A&E 16 Ton set. I received this set in the mail today and watched it just now to answer your question. In fact, I just also confirmed that Netflix has the uncut version so I could compare it against this episode.
I have to say that I'm supremely disappointed that A&E is continuing to censor these episodes. If I'm paying for something, I'd like to get the full, unedited version of it that I'm expecting, not this botched editing job they did to cover up the word "masturbation" and the other episodes they edited by omitting material. It's so stupid that they're still putting the edited episodes on disc when, as you rightly point out, you can watch the full, uncut versions on Netflix and iTunes. If they're afraid someone will get offended by the material they deleted, they obviously haven't been watching the rest of the episodes - Monty Python is not for the easily offended in the first place.