Those are indeed the listed mods of the instruments, they do not however boost the songs in that fashion. An instrument with a mod of 22 will take your song from 100% efficiency to 220% efficiency.
Case in point: Hitting a mob with Chords of Dissonance does 14 damage for me with no instrument, and 29 damage with my Lute of the Gypsy Princess which has a mod of 21. That's 14 * 2.1 = 29.4 which is rounded to 29 damage.
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