Yes it will remove the fixes..
that is why they provided the 12.1 Preview drivers
http://support.amd.com/us/kbarticles/Pages/Catalyst121Previewdriver.aspx
which fixed some of the other issues unrelated to skyrim but caused by the 11.11c's to be resolved.
12.1 feels like a brand new set of drivers... mind you some people aren't finding the profiling system working ....