More Future Job Changes?

Then just make Power Guard like body pressure? Make it's damage based on the attack range of the user? Then it would have all the benefits of 'high leveled warriors just squishing slimes on contact' while it doesn't require a new formula.

Then they would likely remove the defensive properties for balance.
Oh, and it would no longer work on ranged attacks for obvious reasons.

How about just changing Power Reflection to work like Body Pressure?
Not having a Hero, I can't say whether or not this would be an awful thing, but, since a Hero suggested it, they can argue over it.
As a Paladin, however, I'd like you not to mess with my defensive skills.

I don't care about touch-killing low level monsters since that doesn't help me at all.
When I'm on low level maps on my Paladin, I'm either on a mount, which negates Power Guard (as it should) or using Rush to get around.

I still haven't heard an actual scenario in which this change would be beneficial.
The only thing I can see it providing is minute extra DPM by standing on a boss.
There are much better ways to add DPM to a class, especially to a class that has two skills that block attacks entirely.

I'd rather them make Power Guard and Reflection deal damage from a simple formula that uses defense, like: [Defense * Multiplier]. For Power Guard, the multiplier could be a random value between 0.70 and 1.00, and Power Reflection's multiplier could be a random value between 4.70 and 5.00.

This wouldn't really require all that much programming to make. Hell, it might even require less programming than what the skills have now.

That last sentence is nonsensical. Not changing anything always requires less work than changing something.
And, no, making a damage formula isn't as simple as going "HERPDERP THIS NUMBER TIMES THIS NUMBER!"
Well, you can do that, but your game will probably suck.

But why do we even care how much Power guard does? im fine with it just absorbing damage and then doing nothing else.

This. It's perfectly fine the way it works now (which isn't actually as you described since it still does and has always returned the damage).