Eh, I'm not so sure. For starters, the permit is titled "Grand Floridian to ..." indicating that the walkway will start at the Grand Floridian. The existing walkway starts at Magic Kingdom, so it would be kind of weird if it was referred to as the "Grand Floridian to MK Walkway"
Additionally, this is a "Large Construction" permit, meaning it will disturb more than 5 acres of land. Even drawing a VERY generous boundary around the path still barely yields 4.5 acres, so I'd be very surprised if they were disturbing that much land in that area just to remove the commemorative pavers and repave a path.
The permit application should be uploaded into the system by the end of next week, so when that happens we'll know exactly how many acres this project will disturb, so that will hopefully indicate whether or not this will connect all the way.