I absolutely believe this is conversion therapy despite the repeated denials to the contrary that appear throughout the paper. It's worth a full read-through, but two things stand out to me as especially telling:

1) The fact that this article only discusses gay males, even though the form of therapy is initially described as being a "clinical trauma treatment for males and females, regardless of their sexuality".
2) This quote at the end: "Many clients who are gay-identified, but wish to explore their attractions in a neutral way, and to resolve any traumas they may discover, do not see this potential shift in their sexuality as a negative side-effect. They often give consent for their sexuality to possibly shift on its own to whatever that result may be", which to me heavily implies that the patient sample consists of gay men who wish they were bi or heterosexual.