If what I read is accurate, it's still there, on the digital version at least. A one-time activation is unquestionably DRM.
From Dust PC, from what I heard and
read, you basically have to activate the game online one-time.
Then, you can download the NO DRM check patch and install that.
Then, you can boot the game while offline - but, you still have to run the UPlay Launcher [in the background, like Steam's offline mode].
I wonder if Rayman Origins PC download version will work like this...