What this diagram does do a good job of is highlighting the complexities of the human mind in acquiring new information. As such, elearning developers should take note and try to make more engaging learning.
For example, if you are just presenting text on a page with a few pictures, you are severely missing out on an opportunity to make your learning more effective. Whether your subscribe to the learning style approach or not, the point is humans crave variety in learning.
If you create one-dimensional elearning programs, then the effectiveness of your program is surely going to suffer (you should definitely be measuring your program effectiveness).
Make an effort to present the content in a variety of ways through various media. It will go a long way in solidifying the key points with your audience.