Yes, but Savage Species is using the 3rd edition weapon size rules.
If you are using the 3.5 weapon size rules, resizing weapons does not affect range increment. There are giants with shortbows who can reach the end of the range increments of their weapons.
I hate the 3.5 weapon size rules. Hate them. Hate them. Hate them. They are without a doubt the worst idea of 3.5 - everything that is different about them from the 3rd edition rules is worse than the original. They create stupid problems like this and have no advantages at all.
That and centaurs can't use human shortswords because their feet are too big.
-Frank