Title says it all, I think.
I accidentally checked the box on this question.
Yes—community moderators, at their discretion, can now remove community wiki status from particular posts.
This also inoculates those specific posts from ever being auto-converted to community wiki again, so they can be edited indefinitely with no forced wiki.
There are no more automatic conversions, but in the past, we felt the automatic "force community wiki" thresholds were correct:
If you feel your post has been unfairly converted to community wiki and deserves treatment in lines with the new policy, you can flag it for moderator attention and plead your case to a community moderator.