I don't know why some people are having the exact opposite experience, but as of version 3.1.2 I've experienced this for at least a year that blind rage seems to always override panic, unless the enemy reaches low health and still hasn't detected you. It's most obvious with Kranach who used to experience a (guarranteed?) panic, and now always rages. I suggest if you don't believe me that you start in exploration mode, wish an orc, hit it to low health and wait for the state to change. I bet you won't see a single panic.