Taunt still not working

A group of us decided to fight a dragon in Grunvald last weekend, and I thought it would be a good time to try out Taunt - currently level 80ish. I ran in, spammed taunted several times, and then the party went in to attack. As soon as the first few arrows from our archers hit, the dragon immediately targetted them. I spent the rest of the battle using taunt as fast as I could draw it. The archer died, the other DPS died, the healer died, and then finally the dragon turned his attention to me. Our archer was using escape as much as possible as well.

Second time around, I used my normal bludgeoning and gave up on trying to be a tank. Being lowest on the aggro list makes me think something is wrong. With DPS builds able to dish out more than 100 damage per attack, I don't really see how Taunt is ever going to be viable for tanking.

Questions
1) Is the dragon just immune to Taunt?
2) Is anyone else having success using Taunt against high-level DPSers?

Recommendations
1) Taunt should give a lot more aggro than 100 as you level it up. You're giving up an opportunity to do damage by using this skill.
2) We need other tanking tools in this game. Such as a short forced taunt, a skill that copies the aggro of the most hated ally. Put these skills on the shield skill tree to encourage shield use for the main tank.

I'm a bit disappointed that this close to launch, the tanking role hasn't become viable yet compared to just using a bow in full plate.

 

I have a couple good tanks that use taunt and Polearms I believe. I have to actually try to steal aggro when before R50 it was automatic.