Taylor is handling himself just fine outside of the power. He's increased his walk rate from 6.6% in 2011 to 10.7 in 2012... all while only seeing his K% increase 0.08%.
The HR power hasn't been there, but the rest of his game is doing well. He needs to cut down on the K's... but he's at the level he needs to be at. This is only his second full year of pro ball. Give him some time.
I think he may be okay too but it is kind of startling to see the HR power go away. He hit a bunch of bombs in the second half last year and then none this year in the first half. Not even one. Granted, his doubles are up from last year but his pop was a big part of why he was such an intriguing prospect. His baserunning also hasn't improved. 65% success last year and 68% this year.