I have talked to many other players that have tank characters that are also werewolves. The only problem with this is the lack of a taunt ability in werewolf form. It would be easy enough to change one of the skill morphs to taunt. Piercing howl would be a good skill to add taunt to.
Many people mention the tormentor set, but it's ability does not work with the werewolf's pounce attack. I spent time getting the full set and it does not work. I read that it is because the ability only works with charge attacks, and the werewolf pounce is not a charge.
This is something I know his been requested before and I hope out it will eventually make out into the game.