You are correct! When inactive, the bonus won't be applied, so the weight reduction won't be granted and the inactive item will weigh its normal amount.
I think I wrote it with the explicit check for inactive out of habit.
1) That would make the self-gives this:
Code:
-me::baseweight to me::weight
2) and the modifier gives this:
Code:
-owner::baseweight to owner::weight
Well spotted.