I've just obtained evidence that says otherwise.
If it was multiplying, then the skill rates we should have seen would have been either 1.72 or 1.73 to round up the value. Instead, it appears that our individual 20% modifiers are adding on top of each other to get a final skill modifer of 1.6, or +60%.
Further and many more tests will have to be done to see how this will actually stack with Moonvine and Tachibana's own modifier skills. If it stacks additively (1.6 + 2.4) like Moonvine and Tachibana's, then a 25% skill rate will be enough to land 100% of the time. If it's multiplicative (1.6 * 2.4), then 26% would be enough. However, if it stacks additively like Justicia/Cyrtanthus/Geranium (0.6 + 2.4), then 33% will be needed for a 100% activation on turn 3.
As such, I shall be taking chunks of 100~200k damage out of your raid bosses in order to test this theory
Edit: Large additive (1.6 + 2.4) was busted ages ago, ever since Geranium + Moonvine/Tachibana combo was possible, forget that. Small additive (0.6 +2.4) and multiplicative (1.6 * 2.4) are what's left to test.
- - - Updated - - -
After 14 Raid Battles and 56 skill activations, I can say with at minimum, 98% certainty (it's confirmed, no way it's not after that) that the skill modifiers of Cyrtanthus/Geranium/Justicia multiply on top of additive bonus of Moonvine/Tachibana's x2.4 modifier.
30%(x1.4 * x2.4) was the used setup here. If the modifiers multiplied on top of each other, then all units with a 30% activation rate would have a guaranteed 100% rate on the third turn. If it followed the low, additive rule of stacking Cyrtanthus, Geranium and Justicia on top of each other and consequently, other skill modifiers, the 3rd turn probability would have been 84% [30%(x0.4 + x2.4 =2.8)].
Taking this established fact into account, it's safe to assume and hypothesis that Skill Modifiers of the same type will stack in an additive fashion with each other and multiply with modifiers of differing types. However, it'd still be very nice if we can finally put this matter to rest by testing how Cymbidium and Lindley's stack with each other, along with the other types.