This example is block able with the shield but it is not affected by the armor, or at least that is how I read it. The armor basically provides X against Impact, Cut, and Thrust, thus does not effect the Cold damage. However, the shield blocks physical attacks, which this is. The armor, being that it effects only physical attacks, can be argued as to affecting the scythe, as that it is both physical and elemental. That is where the problem comes from, the shield and armor only effect physical attacks, and the scythe is both.
To Summarize: How I read it, the shield definitely works, but the armor I does not. believe does..
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