Don't overlook the fact it absorbs "any" form of damage. 5% is quite enough in my opinion.
Like mentioned in a previous post, Paladin has access to 2 very great Shields if you are a dedicated enough
of a Paladin to work on them.

No offense intended, but to request a higher activation rate from the set is making it sound as though you
are depending too much on it's bonus. As mentioned in a previous post, if you are worried about it so much,
look to invest in damage mitigation pieces to mix in with the Creed Cuirass/Cuisses, etc..

Invest in an Ochain even. It looks like alot of work, but it truely isn't.

Also as mentioned in a previous post, it is nice when it does activate...but you can't depend on that
always to kick in. At any rate, it's just a fun bonus to have when it kicks in. I really don't mind at all
that it is such a low rate of activation.