No it replenishes exponentially! The lower your voting power is, the faster it replenishes. But no matter how far your voting power is under 100%, it will always take 5 days to get back to 100%.
Unless something has changed that i'm not aware of...
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I admit I am not an expert on this, but I don't remember it ever working that way.
I'm certain that's the way it worked when i researched it (probably about 9 months ago), but i can't confirm if they altered the algorithm since. I'd have to do an experiment to confirm, but i'm rather busy currently :(