no, you're not crazy. the limit was implemented and is still active (currently capped at 10 25? losses per day i believe). however, the limit only applies to those in one of the gold arena tiers, so if you are in bronze or silver you wont be affected.

would i be correct in thinking that you are not in gold?

I think it is 25 right now. But yes, there is a loss limit in Gold. 

yea verily, losses happen to me a lot in Gold V, I have to count them up but often they do not show all the battles in 24 hours.  At 10 points per run (est), 200 to 250 points loss overnight is enough to bat you down a level. After a reset I have to scramble to get back where I was. But then with a big number of rebound wins against solo arbiters, I usually do well in the Classic Arena Takedown.

23 losses in 12 hours, sure very possible

Mostly Gold V but I was in Platinum when I posted this.

when did they raise it again? last update i can remember was the one that took it from 5 losses to 12.

I should clarify they weren't all losses, so some of them I earned points. I guess I was assuming it wouldn't matter if it was a win or loss, just a change.

Maybe 2 months ago?

They didn't announce it or anything, you just get 25 losses in Gold per reset now.

It's just capped on losses. And Plat isn't capped at all.  You can loss forever in Plat, if you can win enough to stay there.

And no, getting into Plat doesn't reset your daily loss count in Gold. There's been a couple times, including this recent Arena tourney, where I was really hoping it did. But nope. Had to win that Coldhear skin fighting in Plat for several days. :(

Good to know and thanks to all. 

that would explain why i don't remember it.