In theory that still gives you a lot of downtime in a 365-day span :p Then again, once you are down for more than 4 hours (as they are), that uptime starts ticking away rather fast.
I believe a 99.95% uptime guarantee indicates that you will only have 4.38h of downtime _per year_. So, yeah, they've blown their allowance for the year and now need to execute perfectly.