The chance is now like in vanilla, i.e. 10% and gradually decreases. This can be set in the settings and if it is too much, then change 0.1 to, say, 0.05 (5%) but it will affect all chances.
All new "Gradual ..." settings are more advanced. It is a multiplier that is added to each next quality. So each higher quality will be better and the difference between the previous one will be more noticeable.
Specifically, the "default multiplier" is a general multiplier for which there is no custom setting. So it will multiply, for example, lives, damage. But not, for example, crafting speed, because there is a custom setting for that.