Yes. They will still be on Raw each week.
The idea is to use Raw to set up some matches for the Tuesday show, and then to promote it like hell on both Raw and Smackdown to drive people to the Network.
I think the idea for the show is good. The CWC was great, and the presentation was excellent. They've got the talent for it to do well, especially when they only need to fill an hour of TV. But I'm not sure it'll do well in the setting of the main roster. It think it might flop to a general audience, even if the content is good. Especially when you have it right after Smackdown.
I think the better plan would have been to have it taped at Full Sail in the same way NXT is. You'd have a hotter audience, especially given how much they love Swan and Alexander. You can still push it on Raw and Smackdown, you'll just have to write the stuff a bit in advance (which is fine, as they're self contained like the women are). I'd also air it on Wednesday night.
I'd actually make Wednesday night a thing on the Network. Have NXT, then a second show every week. Have the 205 show be the 'default' one, but they put it on break when they do things like the CWC. They're having the Women's Tournament next year, put that in the time slot. Maybe do a couple nights of tag matches for the Dusty Tag instead of house shows.