"10% increased effect of flasks"

"

griffypants wrote:

I'm new to the game, and still a bit confused by this explanation.
Base effect for Medium Mana Flask is 80 mana over 6.5 seconds at a cost of 16 out of 45 charges.

I now have 3 passive nodes for Flask Effect "10% increased effect of flasks" each.
I was expecting the tool-tip to so an increase in some of those numbers, but they still show the base values.

Does this mean that were I to use the Medium Mana Flask, that it would increase the mana 10% more than the listed amount for each level of the passive skill? Or am I reading this wrong?