Does CDR from items affect activated items cooldowns? i.e Gargoyle Stoneplate 90s to 54s at 40% CDR

I was trying out the new items on the Practice tool and notice that they were affected by cooldown. Gargoyle Stoneplate has a 90 second CD but was reduced to 54 seconds at 40% CDR. Is that normal or a new part of activated items?

New to posting for bugs.

http://imgur.com/a/ALPfg (40% and non 40% images)