(Source: LoL Inven - Real-time User Info)
It looks like a lot of people are confused about the Q changes shown above, so I'm here to clear things up.
Here was the tooltip for Shen's Q in the previous patch (up to 7.7):

The part being changed in this patch is the very last sentence. In the old version, when Shen cast Q and basic attacked a non-champion target, it dealt 30/50/70/90/110 bonus damage (the %HP damage in the second paragraph obviously still applied as a base effect). Essentially, you can think of that bonus damage against non-champions as being removed. Instead, in patch 7.8, the bonus damage will be 15/20/25/30/35/40 regardless of whether the target is a champion or not.
So, summarizing the Q change along with the other patch notes:
- Trading: Buff. It gains bonus damage of 15/20/25/30/35/40 that didn't exist before. The %HP damage is still there, of course.
- Wave Management (CSing and Dirty Farming) & Lane Clear: Nerf. The new bonus damage is smaller than the old bonus damage against monsters that was removed.
- Engage & CC: Buff. Taunt buff.
- Risk (Ultimate): Nerf. Proper ultimate usage has become more important. The cooldown is longer by default, and the shield amount is no longer always a fixed value like before, so Shen has to be more careful about whether he's ulting for the roam or for the shield.
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