Recorded this just now, as a demonstration of how Absorb Shock works. The damage taken is reduced and the health is temporarily lost, but it will start coming back again so long as you do not get hit again.
This method is not the same as when using Cestus, where you take no damage at all but still enter the same absorbing animation during only specific moves. That is why I make a point of calling all damage avoidance as a Cestus "Weaving", after his step dodge.
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