Till now, i have played this card so: if it triggers his effect, you dont deal to him any damage, you 'change' this damage in a character you control.
Forced: When Thrashing Tentacle is attacked, discard the top card of the encounter deck. If that card has a shadow effect or is a Tentacle enemy, deal the damage from the attack to 1 character an attacking player controls (ignoring defense).
I have seen a guy playing so: you deal damage to your character, ok, but it is not 'changing', the first damage is dealt anyway tto Thrashing Tentacle.
It is ok?