The 110% just means that in a particular period it was 10% more profitable to mine than the preceding period compared to ETHEREUM. So its 10% more profitable but the profitability is still pretty bad.

Take a RX 470 4GB for example, it hashes at like 28MH/s using 130 Watts and makes $0.24 per day before electric, the 10% extra is only an extra $0.024. And if you got power higher than $0.08/kwh you are pretty much not making anything.

The ETH profitability will be 30% or so more profitable on January 1st when they delay the ice age and we get 13 second block times again.