The full context of the quote:

Interviewer: In a lecture lately upon the subject, [Reverend Joseph Cook] said,

Karl Marx is credited now with saying that, in the United States, and in Great Britain, and perhaps in France, a reform of labor will occur without bloody revolution, but that blood must be shed in Germany, and in Russia, and in Italy, and in Austria.

Marx: (Smiling.) No socialist need predict that there will be a bloody revolution in Russia, Germany, Austria, and possibly Italy if the Italians keep on in the policy they are now pursuing. The deeds of the French Revolution may be enacted again in those countries. That is apparent to any political student. But those revolutions will be made by the majority. No revolution can be made by a party, but by a Nation.

I honestly do not know enough trotskyists or maoists (or what Roderic Day thinks they believe) to make a comment on whether or not this quote actually counteracts them. Maybe it counters the Maoist idea of PPW (which obviously has failed to gain popularity amongst the masses in many countries where it was tried).