I assume dodge% is intended to be a type of physical resistance but no enemy in the game has enough dodge% for it to matter.
Sort of - it is a chance to miss rather than a percentage blocked.
If you play on tactician there are a few NPC with evasive aura (the guard by where Siva is being hanged is the first example I can think of) that don't get it on easier difficulties. This gives them 90% dodging and so pretty harsh if you are all physical and not expecting it.
Perhaps the DE will add more as evasive aura (or immunity to physical of which there aren't many at all) as it would be a better solution than simply bumping armor. They said there was some rebalancing in this respect but I've not finished downloading yet.
