Yes they still use Italian threading. Many guys feel that English threaded BBs are better from an engineering standpoint, one of the cups has reverse threading. But I have never had an issue with Italian BBs coming loose. Just put a bit of pipe sealing tape on the threads and tighten it to spec with a torque wrench.
Still italian threads and C50/Extreme-C/Extreme Power have titanium bb thread shell inserted - so cutting the threads is a "nice" job as Colnagos aren't perfectly prepared out of the box. All threads shall be reworked when building up the bike.
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