i definitely think so. Raiden rulez!
btw, the combo you are talking about does 26% against a wall, and not 24% (in the XBox version at least). that's when you start the combo with the opponent's back against the wall. if only the last hit makes the opponent hit the wall then it's 25%.
here, try this to spice up this combo a little bit:
after the second Back + 2, instead of hitting a Shocker, try 2 and then follow with a shocker. the timing is kind of tricky, but when you master it you'll have more damage. so the final result is:
1, 1, 2, Back + 2, Back + 2, 2, Shocker
that hits for 9 hits if you don't hit a wall, and the damage is 21%. against the wall, the damage is 26% again.
for more Raiden combos, check out my FAQ at GameFaqs:
http://db.gamefaqs.com/console/xbox/file/mortal_kombat_da_raiden.txt