No it doesn't...

Where the hell do you get your information?

Absorb % obviously absorbs a percentage of the total elemental attack.

+Absorb works differently. Say, for TGods (+20), it absorbs 20 of the final damage, which then heals up to 20. Your Lightning Resistance is what does most of the work for you...

Example: 1K Lightning attack.

1K / 4 = 250 for PvP reduction.

250*0.05 = 12 damage (fraction dropped, assuming 95% lightning resistance)

Now, from that 12 damage, you would absorb all 12, and heal the remaining 8, I believe.

I have honestly forgotten specifics, as I researched it in .08, but it doesn't even work remotely like a % (Absorb % is capped at 40% anyway)...