Nope.
Pay closer attention:
Paul isn't talking about circumcision itself. He's talking about two completely different groups of people.
"Therefore remember that you, once Gentiles in the flesh—who are called Uncircumcision by what is called the Circumcision made in the flesh by hands—that at that time you were without Christ, being aliens from the commonwealth of Israel and strangers from the covenants of promise, having no hope and without God in the world. But now in Christ Jesus you who once were far off have been brought near by the blood of Christ."
The first group, Israel, is being called "the Circumcision."
The second group, the one Paul is talking to directly, is called "the Uncircumcision."
GT, it is a well established fact that in the Bible (and even outside it) often something is called by what the first part of it is. For example, in Genesis God multiplied Eve's "conception" out of mercy for her children. This isn't saying it would take longer for a woman to conceive, but that the length of the pregnancy increased (most likely from 6mo to 9mo, but that's a topic for another thread).
The same method of naming is used in Ephesians (and really, throughout the Bible) for circumcision. It was the first law God gave to Abraham, and it had to be followed by all of his descendants, and his servants and their descendants. Anyone in the house of Abraham had to be circumcised (excluding the women).
God used the circumcision command to set apart Abraham and his family, and since then, his family (from Isaac, the son of promise, not Ishmael) has been called "the people of the circumcision," and everyone else is called the uncircumcision, because they did not circumcise according to the law given to Abraham.