I feel the same way. Started a new world to try everything through progression and the bone tower shield just doesn't work well against trolls. You can maybe block a shot or two but when they break your block the fight is over. And it's harder to get openings to counterattack. You may as well just kite with a bow instead because you're going to end up dodge rolling and running around anyways.

A buckler and a knife just eat the troll alive, that damage bonus from parry is important. I haven't devoted a lot to time to playing this since the update, but I'm hoping that later tower shields feel better.