You essentially killed Tequatl, people will do him once this next few weeks for the achievement then never do him again. You have made him too difficult. A 100+ man zerg just went head to head with him and got him down only 5-10% in 15 minutes. Like I said the idea is amazing, you have just overdone it.
Next thing is the WP stays contested after you fail, moving people further away from even going to do the event. Last but not least, NO LOOT even after 15 minutes of getting your armor smashed.
All in all, it needs a tweak, its not a hardcore gamer event and should not be treated as such.
Regards Tadz