I think whatever they're doing with pitchers arms is likely better than what coaches and trainers have done in past decades but its an imperfect science and I'll join with the poster above who said there's simply no sure-fire way to reduce injury. This is a world-class sport where pitchers are straining the human body to do things that are nearly impossible to accomplish, you're inevitably going to push people's bodies beyond their breaking point, particularly with the fashionable (and effective) focus on velocity.
I feel bad for pitchers. No matter what, these guys are usually doing some massive damage to their bodies by the end of their career. Except for Kyle Hendricks. Good for that guy.