The right way to calculate this figure is (t1 - t0)/t0, rather than the author's formula which seems to be (t1 - t0)/t1. For instance: (157 - 98)/98 = 60%, but the actual amount is (157 - 98)/157 = a 38% speed up. A heuristic: 60% of 157 will be much more than 60 (since 60% of 100 = 60), which means a 60% speed up would reduce the speed to below 97 cycles.
It gets even more misleading the more efficient it gets: Adding up the cycles, the total was just 1689. I had shaved almost 1200 cycles off of my friend’s code. That’s a 70 percent speed-up! The author has 1200/1689 = 71%, but the correct numbers yield 1200/(1689+1200) = 42%.
Not that I don't think these are significant gains, but it's just misleading to label them like this. If you've removed less than half the cycles, there's no way you've seen a 70% speed up.