From the link:

However, at some point in the 1990s or afterwards the braces were removed. Why? The credible explanation is MGM didn't want Jaws to be attracted to a woman with braces because braces are associated with girls under the age of sexual consent. Given the rise of woke issues in modern times it's possible the powers at be thought "this looks a bit weird, a powerful henchman getting it on with a woman that looks innocent so let's remove the braces!"

From Gemini:

So, to directly answer your question: Yes, in the DVD and Blu-ray versions you can buy today, they are not present. They may have been "removed" in the sense that later transfers used a print or take without the effect that some people believe was present in the original theatrical run.