To be fair to Larian, it's not particularly easy to find a way to allow correct and timely player reaction choices, while still allowing their high production value depiction of the game.
Definitely.
Maybe a threshold the player can at least set? For example, the player gets to set the minimum damage he wishes to avoid with an Uncanny Dodge, or a check list of spells the player wishes to counter, all of which can be adjusted on the players turn. It would still have its limitations and wouldn't give the complete freedom of pen & paper (which I think is impossible to do in a video game), but it would mitigate the obvious problems of the "set and release" method, all while being consistent with the turn based feel of the game.
Expanding the conditions to more exactly reflect how you might use each reaction type would certainly reduce the number of "bad" reactions being taken; although it might be quite a task to maintain all the settings.
Similarly, you could have an order of preference for reaction types, which *might* help under certain circumstances ( e.g. if the game knows it will trigger 2 or more reactions, it can choose your preferred one ).
Still not the same as true situational choice, of course.
