Just found this thread via a Google search and thought I'd chime in on the off chance the OP is still following it. My level of risk aversion is similar to yours.
I had a pretty sophisticated slice-and-dice DFA-fund based low (40%) equity portfolio from about 2005 (if you're familiar with Bob Clyatt's excellent book "Work Less, Live More" I pretty much had his very thoroughly backtested RIP portfolio). Seeing a ~23% paper loss in a portfolio that "couldn't" lose more than 8% of its value didn't make me panic, but it did make me take a hard look at alternatives, and I've been in the Permanent Portfolio since late 2009. After staying the course with that allocation for 5 years I recently cut back on the gold and switched out the treasuries to all intermediate term.
I read Swedroe's "Reducing Black Swans" book and also Bernstein's "Deep Risk," which if you haven't read it is especially worthwhile since the whole book is basically a riff on the PP and he make a really compelling case for the 4 x 25% allocation of that portfolio being a not-very-smart way to protect against the disaster scenarios it's designed to be a bunker against.
As others earlier in this thread pointed out, you have to have a lot of faith that the small cap value, international and emerging markets outperformance will continue to invest fully in one of the Larry portfolios, and you have to be able to live with the tracking error. If you can afford it (I can't) I'd seriously go with a financial advisor that can not only hold your hand during market crises but also keep your allocation up to date in light of the latest academic research and macroencomic trends. Evanson Asset Management in California is superb in a lot of ways: for one, they use DFA funds which are unquestionably the best for this kind of portfolio, and they charge a fixed fee ($2500 a year for smaller accounts) rather than a percentage of assets. It's a 500K minimum but their average client has 3 million and they do a lot of institutional and trust stuff. Their market savvy is lightyears ahead of what you're goint to get from any of the RoboAdvisors.
Failing that, what to do? I think you have to increase the equity allocation to at least 40% but no more than 50. Rick Ferri these days recommends 50% U.S., 40% International and 10% Reits for the equity allocation of an all-weather portfolio, and then you will have to decide whether to tilt to small and value or not. On the bond side, intermediate term Treasuries - period - in my book since no other type of bond benefits from the flight to safety during market panics. Bernstein says that tilting to value and international is the only viable way, cost and practicality wise, to guard against inflation. Forget about the gold for all kinds of reasons, or keep 5% if you must.
Of course if this is all too much (and for me it often is) you could just go 100% Vanguard Wellesley and try not to look at the markets (it's beaten just about every intricate slice-and-dice porfolio AND Larry's porfolios over any time period you care to measure).
Hope this helps a little.