With the RAW (Rules as written) i think that it is still workable. The situation is that with Dodge it applies a modifier. based on the colour of the feat given. It reduces the amount of damage dealt by upto 6CS (Column Shifts).
Now the rules do allow for impossible feats which mean that for the average thug trying to hit some one like quick silver you have to look at the ranks and say.. you can try bub but your looking like a snow ball in hell there.
For the sake of arguement lets say that both roll the red feat for this. Then it comes down to ranks. Yes the to hit chance aint going to get any better and if the ranks are more than 3 less than the rank of the dodging then the character can try to hit but still looking like the above snowball. Where the ranks are less than 3 apart then the dodge with the red feat erduces the damage by 6 CS
eg:
attack is greater than dodge by 3 ranks
= Auto hit. you can let the player try to dodge and they roll a red feat you can state fairly that the attack was too quick for them.
Attack is less than dodge by 3 ranks
= Auto miss (no damage)
Attack within 3 ranks of dodge both on red feat results - resolve normally.
thoughts on this welcomed.