Seeing as non-druid tanks can get 20%+ dodge as well i'd say it's fair, it'd lower their avoidance the same amount as ours Effective health will now grow in importance even more. A bit more relaxed will be druids because agility is multiplied by talents / Kings.
The dodge reduction will affect all tanking classes just as much (any lvl 232+ geared tank will have ~25% dodge and the substitution of dodge with parry just isn't possible because of gear itemization). A warrior can reach even close to 4000 on some blocks with his Critical Block talent. Fully raid buffed, a paladin can reach ~3000 block. Because bosses in ICC supposedly will not hit much harder, gear loaded with strength, block rating and block value will be their best bet. Probably Warriors and Paladins will get out of this the easiest way through block. Dropping dodge for the sake of stacking parry would probably get them to the same result. Second, parry is also under the effects of diminishing returns. Also keep in mind that defense gives both dodge and parry at a rate of 0.04% per defense skill point. There are VERY FEW pieces with no dodge and only defense/parry. It would be quite difficult to find gear with defense / parry as only stats of avoidance.