No, it's "safer" but not safe. It has the same Spin cool down as pre-patch spin. So it's not as easy to punish, but it's still punishable by big damage by alot of the cast.
EX spin has like HALF as much lag. I think you can punish with anything 12 frames or less.
I could be wrong but doesn't the Ex version have significant pushback meaning it would only be punishable by people like Ermac and Reptile.