I seem to be immune to radiation (from one source of uranium) when wearing power armor MK2 with a regular shield generator (MK1; the green one), but not with any of the other higher tiered shield generators.
I took a look at the code: 7.25 base damage plus 8% of the max shield (8% of 200) = 23.25 damage which gets lowered by 4 and reduced by 45% by the armor (= 10.5875 damage), which is lower than the shield recharge rate of 12/s of the shield generator.
Higher tiered shield generators have higher max shield (150; 200; 300), so the damage is higher (19.25; 23.25; 31.25), but their recharge rate isn't increased as much (12; 13.5; 16.2).
Is this intended? It doesn't seem very logical that the better your shields are, the more damage you take... And it will kill you faster after the shields run out?
TL;DR:
Power armor MK2 + Shield MK1 + Uranium = no damage
Power armor MK2 + Shield MK2 + Uranium = damage?
Power armor MK2 + Shield MK3 + Uranium = more damage??
Power armor MK2 + Shield MK4 + Uranium = lots of damage???