No, he's still **** tier. Per usual, riot went around the buffs completely wrong. The problem with galio is his skillset is so unfocused - decent initiation, poor tanking, terrible support. What he needs is a specific role. I've carried games as galio, but they are the exception, not the rule. More often, you soak up farm that could be better used by a carry. You flash, you ult, and you may as well walk away then.
First, here's what galio got:
He gained +5 armour at level 1, and -4 at level 18. This is fine.
He gained 25 HP at level 1. Underwhelming; he needed more per level rather than base.
His Q was made cheaper and somewhat faster. Too bad it's still a poor CC and just as useless post laning phase.
His shield gained half a second. Whoopdie ****. It needed more like double the duration, not half a second. Come on.
He gained 20% damage reduction while ulting. Nice on paper, except galio never had problems surviving his ult to begin with. Points for effort.
What he needs is a clear decision by riot as to what he is supposed to be. Is he a tank, or is he a support?
If he's to be a tank: Give him 10-30 armour/MR passive on his shield, and double duration if self-cast. Better yet would be to give his Q a microstun ala heimer nade in the center. Reduce base damage of non-ult skills and AP scaling.
If he's to be a support: Double his shield duration regardless of target, and rework his E. An idea would be to make it knock back enemies a maximum of 600 distance, which would make it much better for protecting carries and disrupting the enemies.
Either way: His shield needs to heal the target of shield, not just galio.