I think there's a little confusion here as to the role of a dump load. The idea of a diversion load is two fold. One, and primary, is to provide a charge algorithm for the batteries. Two, is to supply a continous load for the machine for protection.
Since you're using PWM to control the current proportioning between the batteries and the dump load, based on the PWM voltage set point, the current from the machine doesn't change for a given set of conditions. The stator doesn't know how much is going to the batteries and/or to the dump load, nor does it care.
Alternator efficiency is primarily determined by the stator resistance and the output current for a given air rotor power input (wind). So, changing where that current is directed has no effect on the efficiency or stator dissipation.
The dump load resistance should be chosen so that it can dissipate the maximum power ouput from the machine at the PWM voltage set point, plus a bit for the odd gust. If you change the dump load resistance, the PWM will adjust its duty cycle to try to maintain the set point voltage, but if it is outside the range of the PWM, you will have a problem.
I have two concerns for your system as described. What you indicate is that you simply have an upper limit to the battery charge voltage. You don't mention a means to terminate the charge when the battery is full of to switch to a float mode. This is very minimal charge control and will result in decreased battery life unless you monitor closely.
Secondly, dissipating 1.2 kW in the stator would worry me a lot, particularly with a cast stator. I'm afraid it's a failure just waiting for the right wind to happen. An efficiency of 45-50% is not a requirement. Much better can be done.