Yes, and it refers not to changing what God wanted in the past (which would be retroactive, but isn't what a present tense action having future tense effects would indicate; it's not “whatever you bind on Earth will have been bound in Heaven”, which would plausibly describe a retroactive effect, or alternatively or pre-ordained one) but the future consequences of sin. Again, the quote you point to is the basis for doctrine about absolution of sin in confession, not the ecclesiastical infallibility either in general or in the specific form of papal infallibility, which are not closely related doctrines.