I did some testing. Apparently it shows like normal if you stay on low, but if you go medium or high it looks like this:
Normal = clearly visible, or not visible at all ? (Before path on med/hi they were visible - less than without cloak, but still. Now barely visible on med/hi).
NV Nerf #2 - enemies seem now to be visible on shorter distances then before. Before patch enemies were brighter until nv range, now they began to becoming darker, then disappear completely where land is still visible. ...edit.. or maybe not ? I am not sure now.