I tested it in HM EV and Holed Up works wonderfully. With Holed Up, Defense Screen, and Force Armor, I took 0 health damage. It was mitigated enough by Holed Up and Ballistic Dampers to be smaller than the absorption of Force Armor. The alternate strategy of running into the orb with just defense screen would cost me ~half of my considerable health.
TL;DR: IT WORKS