Since it doesn't use the normal ways to download extension, I would assume it does not use TLS connection. Secret downloads has the problem to display certification errors and similar things to the users, so they would likely have to reimplemented quite a few code paths to make that work properly. https and tls is also not mentioned in either bug threads, which is a worrying sign.
If it uses TLS, then the bug is less exploitable but does still violate security policy of the vetting process, signed code and license classification (closed-source blob). At minimum, it leaves anyone vulnerable to arbitrary code injection from Google.