Maybe others have more learned views than me but my comments are:
What are the other rights beside “gross negligence, dishonesty or fraud” that the OC is being asked to sign away?
Consumer law protects a person from signing away rights that the law gives them. If a consumer signs a contract giving up their warranty rights that is not enforceable against the consumer so they still have warranty rights.
I am not exactly what rights you are referring to for your strata agreement but if you are not happy what happens if you just don’t sign it?
Maybe approach the department of fair trading and see what they say.