[b][u]Ruling[/u][/b]
[list]
[*]Retaliation does not state any passive Fast Reaction Time capabilities in his profile sheet. There's more.
[*]Retaliation does not have the ability to see through the very concealment he created unlike Thomas.
[*]Retaliation's own smoke screen would render the timing of his activation(s) proper for any abilities outside of Ember Aura and the autodefensive capabilities of Subversion field incorrect. He will not be able to see the projectile or attack coming to compensate and initiate the freeze plasma.
[*]The activation of Time Alter and the freezing aspect of the Subversion Field cannot be activated in time to deal with the arrow because of the speed. This coupled with the lack of FRT means neither of the two can be initiated in time to meet the oncoming threat; however, Retaliation possesses extrasensory within his subversion field when an object or person penetrates it allows his attack to resolve.
[*]The plasma bolt's freezing ability upon the arrow, then, does not activate. The plasma bolt's default state, however, does as part of Retaliation's autodefensive capabilities of the Ember Aura and Subversion Field stated by Junction in his post.
[*]The autodefensive capabilities of the field was present and activated once any energy expanded by Retaliation is accomplished (stated by his profile sheet). Thus, with ember field and Subversion Field, the plasma bolts, mentioned by the author, are activated proper and strikes the arrows.
[*]The arrows have no specified capabilities outside of their enhancements initiated by Thomas. That means they do not possess any characteristics outside of being arrows: meaning, they default.
[*]We can only assume because the mention of head or tip is related to the arrows that they must possess a stone or metal head.
[*]The resistance stated by the arrows only affect "Magic" based "interference" as parlance of Melon's profile sheet. Retaliation's powers only "appear" like magic because of Spellwarp, but are not as according to his profile sheet.
[*]There is a strong possibilities the arrows will NOT make it to Retaliation in time for their effect. The temperature of the plasma bolt striking and intercepting the projectile is rated at 5000 Celsius. We can deduce that such a plasma "bolt" is electrical by nature as being a bolt itself meaning it will default (the bolt's speed). We do not know the arrow's characteristics whether it's made of wood, metal, or something synthetic does it is impossible to determine the fate of such an arrow upon contact. We could extrapolate the most arrows are wooden or thought to be wooden, and that the head may be made out of a metal. 
[*]At 5000c vs a bolt of plasma hitting an object we can only surmise the temperature explodes the arrow or ignites it which deteriorates its properties; however, because it is moving at an immense speed it is possible for it to hit Retaliation perhaps as a soften mass of melted metal or explosive rock.
[*]The arrow, being unspecified and attacked by plasma bolts, have an even greater chance NOT penetrating armor (made of tungsten) not for any other reason but because we do not know the properties of the arrow in question. An argument may come from the fact that the speed allows whatever passes through to become heated enough to melt straight into tungsten (3,400+ Celsius melting point), but because the arrow can be made of wood and its tip of some metal an argument is made that the arrow explodes and fragmented onto Retaliation. This would reduce the amount of kinetic potential it would have, though its speed would still be unchallenged.
[*]From what we can determine the arrow's actual traveling time within Retaliation's field is 0.000896 seconds.
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[Color=Green][b]Verdict[/b][/color] The speed in which the arrow is moving compared to Retaliation would allow the arrow the chance to hit the chest (he cannot realign in time); however, what is potentially HITTING the chest may not be the arrow launched at Retaliation but a distorted or destroyed one. Thus, due to the defenses of Retaliation, and lack of characteristics of the arrow, Retaliation is still in this fight properly. The armor takes the majority of whatever remains of the arrow. The [b]Infernal Shatter-head[/b]'s ability cannot resolved if the actual projectile is destroyed (since it was suppose to buckshot before contact). Most of the kinetic transference of the arrow is in the shaft which, because we do not know what it is made of, is destroyed by the bolt rendering the debris left powerful, but still fast enough, to hit the armor. The attack from Junction resolves regardless.

Melon you may reply when ready.