Glad to see there's someone taking over my guide when I'm unable to be online for a few days.
Cheers Duilliath.
@ Neazy, basically anything Duilliath stated is right. You could also throw the 2 points in Primal Madness, like I do myself. But honestly, the 2 you left out are floater-points. Either Primal Madness/Thick Hide/Perseverance/Fury Swipes will do fine, depending on your comp and playstyle.
About the damage reduction from 2/3 Thick Hide vs. Colossus Smash/Find Weakness. If you have say 1000 armor, Thick Hide would increase that ammount by 26/52/78% in Bear Form (at 2 points it will be 1520). When Colossus Smash is used on you, it will reduce that ammount by 50%, making it 760.
I'm not entirely sure this is the way it goes, but it's the way it seems to work for me.