Leaving my previous comment up so people can laugh at me. I never turned the mod on.

Maybe I'm missing something, is this supposed to allow you to level more than 5 levels per NG level? If so, I don't think it's working properly, I still get a complete stop when I hit the vanilla cap

It just adds 3 points per area level. If you're at area level 10 it would mean +30 exp to all enemies killed and experience scrolls.
Eventually experience gain does decelerate (because you would be too high level and all experience to you gets lowered), but it just caps off one level sooner than in vanilla.

Hmm, I have some questions. What does the last bullet point mean exactly?

Is it multiplicative by 3? Just adding 3 on top of what it already gives? Why make it per area / add it at all if you're already reducing the penalty? Which instances are you talking about?

That could either be some crazy accelerated xp changes, which seems over the top in addition to the cap changes .. or not doing anything at all.