I'm more interested in monster part of the node.
Does "Nearby enemy monsters' Action Speed is at most 92% of base value" means it will negate any buffs to monster speed or increases will just work on 92% of the monster action speed base?
Neither. It means the exact opposite of the player half - if their action speed without that modifier would be above 92% of the base value then instead it is 92% of the base value.
This is not the same as negating all bonuses because those can still apply in combination with penalties to action speed to partially or fully counter them, just the final result can't be above 92% of the base value.