No. You can still get 25%! I just did it. http://www.fatwallet.com/forums/hot-deals/838081/
Working search terms:
Terms giving 30%: None known at present.
Terms giving 25%: 'pink', 'phone', 'amazing', 'iphone', 'tilt', 'onkyo', . (You may have to reload the page several times to get the % off eBay link to come up).
These were giving 25%. May or may not work and some of these now at 20%: 'Silver Eagle Roll', 'Paul Potts', 'gold', 'playstation', 'd40x', 'xsi', 'wii', 'ps3', 'net a', Seagate FreeAgent.
You may need to refresh browser/enter new keywords to get above percentage (Note that caching links for later use apparently doesn't work).
It does not matter what terms you search for in live search. USe one of the above that will give a 25% cash back. Once in eBay search for whatever you want, you'll still get the 25%!