Ok, found the solution.
Seems that when the FTB launcher downloads the mod packs and the minecraft JAR files, my minecraft.jar was showing up as only 1kb in size (even though no errors were reported in the console during the download or installation process). I first tried to use an old copy of 1.4.6 to use with DW20 v4, but the launcher would hang. Forced the launcher to use v5 (the test version) and copied a freshly installed 1.4.7 JAR file from my base Minecraft directory. Now it's running like a champ.
I wonder if there may be an issue with the FTB launcher downloading the main Minecraft JAR files, or perhaps it isn't performing a MD5 checksum on the files downloaded?
Anyways, in case anyone else runs into the same problem, check the /bin directory in your mod folder and verify that the JAR files are good.
Also, since the pastebin link will die in a few hours, here the original console messages for this error (for anyone that has this same error later on).
[15:39:07] [INFO] LaunchFrame.main:161: FTBLaunch starting up (version 1.2.2)
[15:39:07] [INFO] JGoogleAnalyticsTracker$2.run:483: AnalyticsBackgroundThread started
[15:39:07] [INFO] LaunchFrame.main:162: Java version: 1.7.0_11
[15:39:07] [INFO] LaunchFrame.main:163: Java vendor: Oracle Corporation
[15:39:07] [INFO] LaunchFrame.main:164: Java home: C:\Program Files\Java\jre7
[15:39:07] [INFO] LaunchFrame.main:165: Java specification: Java Virtual Machine Specification version: 1.7 by Oracle Corporation
[15:39:07] [INFO] LaunchFrame.main:167: Java vm: Java HotSpot(TM) 64-Bit Server VM version: 23.6-b04 by Oracle Corporation
[15:39:07] [INFO] LaunchFrame.main:168: OS: amd64 Windows 8 6.2
[15:39:09] [INFO] LocaleUpdater.run:67: [i18n] Checking for updates ...
[15:39:09] [INFO] I18N.setLocale:157: [i18n] enUS English language file loaded!
[15:39:09] [INFO] LocaleUpdater.run:80: [i18n] remoteVer = 10
[15:39:09] [INFO] LocaleUpdater.run:93: [i18n] localVer = 10
[15:39:09] [INFO] LocaleUpdater.run:98: [i18n] Files are up to date
[15:39:09] [INFO] I18N.addFiles:114: [i18n] Fallback enUS loaded
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 0 enUS to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 1 cyGB to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 2 daDK to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 3 deDE to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 4 esES to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 5 frFR to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 6 itIT to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 7 maHU to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 8 nlNL to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 9 ptBR to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 10 ptPT to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 11 ruRU to options pane
[15:39:10] [INFO] OptionsPane.<init>:157: [i18n] Added 12 svSE to options pane
[15:39:10] [INFO] I18N.setLocale:157: [i18n] enUS English language file loaded!
[15:39:12] [INFO] ModpackLoader.run:59: Loading modpack information for modpacks.xml...
[15:39:14] [INFO] ModpacksPane.onModPackAdded:307: Adding pack 1
[15:39:14] [INFO] ModpacksPane.onModPackAdded:307: Adding pack 2
[15:39:14] [INFO] ModpacksPane.onModPackAdded:307: Adding pack 3
[15:39:14] [INFO] ModpacksPane.onModPackAdded:307: Adding pack 4
[15:39:14] [INFO] ModpacksPane.onModPackAdded:307: Adding pack 5
[15:39:14] [INFO] ModpacksPane.onModPackAdded:307: Adding pack 6
[15:39:14] [INFO] ModpacksPane.onModPackAdded:307: Adding pack 7
[15:39:15] [INFO] ModpacksPane.onModPackAdded:307: Adding pack 8
[15:39:15] [INFO] ModpacksPane.onModPackAdded:307: Adding pack 9
[15:39:15] [INFO] MapLoader.run:40: loading map information...
[15:39:15] [INFO] TexturePackLoader.run:40: loading texture pack information...
[15:39:15] [INFO] MapsPane.onMapAdded:224: Adding map 1
[15:39:15] [INFO] MapsPane.onMapAdded:224: Adding map 2
[15:39:15] [INFO] MapsPane.onMapAdded:224: Adding map 3
[15:39:15] [INFO] MapsPane.onMapAdded:224: Adding map 4
[15:39:15] [INFO] TexturepackPane.onTexturePackAdded:223: Adding texture pack 1
[15:39:15] [INFO] TexturepackPane.onTexturePackAdded:223: Adding texture pack 2
[15:39:15] [INFO] TexturepackPane.onTexturePackAdded:223: Adding texture pack 3
[15:39:34] [INFO] LaunchFrame.doLogin:505: Logging in...
[15:39:38] [INFO] LaunchFrame$13.done:564: Login complete.
[15:39:38] [INFO] LaunchFrame.initializeMods:840: Direwolf20
[15:39:38] [INFO] ModManager$ModManagerWorker.downloadModPack:111: Downloading Mod Pack
[15:39:39] [INFO] DownloadUtils.getCreeperhostLink:68:
http://www.creeperrepo.net/direct/F...40262dc6/modpacks^Direwolf20^4^Direwolf20.zip
[15:40:08] [INFO] DownloadUtils.getCreeperhostLink:68:
http://www.creeperrepo.net/direct/F...d540262dc6/modpacks^Direwolf20^4^FTB_temp.gif
[15:40:11] [INFO] DownloadUtils.isValid:236: Local: 218DD5B5AEEF06CB3A6EFE4470494A5C
[15:40:11] [INFO] DownloadUtils.isValid:237: Remote: 218DD5B5AEEF06CB3A6EFE4470494A5C
[15:40:12] [INFO] LaunchFrame.installMods:690: dirs mk'd
[15:40:19] [INFO] GameUpdateWorker.loadJarURLs:75: Loading Jar URLs
[15:40:19] [INFO] GameUpdateWorker.doInBackground:60: Downloading Jars
[15:40:27] [INFO] GameUpdateWorker.doInBackground:66: Extracting Files
[15:40:28] [INFO] LaunchFrame$14.done:597: Game update complete
[15:40:28] [INFO] MinecraftLauncher.setMemory:114: Setting MinMemory to 256
[15:40:28] [INFO] MinecraftLauncher.setMemory:116: Setting MaxMemory to 4096
Loading jars...
Loading URL: file:/C:/Users/Jason/AppData/Roaming/.minecraft/Direwolf20/instMods/MinecraftForge.zip
Loading URL: file:/C:/Users/Jason/AppData/Roaming/.minecraft/Direwolf20/minecraft/bin/minecraft.jar
Loading URL: file:/C:/Users/Jason/AppData/Roaming/.minecraft/Direwolf20/minecraft/bin/lwjgl.jar
Loading URL: file:/C:/Users/Jason/AppData/Roaming/.minecraft/Direwolf20/minecraft/bin/lwjgl_util.jar
Loading URL: file:/C:/Users/Jason/AppData/Roaming/.minecraft/Direwolf20/minecraft/bin/jinput.jar
Loading natives...
Natives loaded...
Loading minecraft class
Exception in thread "main" java.lang.NoClassDefFoundError: lg
at java.lang.ClassLoader.defineClass1(Native Method)
at java.lang.ClassLoader.defineClass(Unknown Source)
at java.security.SecureClassLoader.defineClass(Unknown Source)
at java.net.URLClassLoader.defineClass(Unknown Source)
at java.net.URLClassLoader.access$100(Unknown Source)
at java.net.URLClassLoader$1.run(Unknown Source)
at java.net.URLClassLoader$1.run(Unknown Source)
at java.security.AccessController.doPrivileged(Native Method)
at java.net.URLClassLoader.findClass(Unknown Source)
at java.lang.ClassLoader.loadClass(Unknown Source)
at sun.misc.Launcher$AppClassLoader.loadClass(Unknown Source)
at java.lang.ClassLoader.loadClass(Unknown Source)
at java.lang.ClassLoader.loadClass(Unknown Source)
at net.ftb.mclauncher.MinecraftLauncher.main(MinecraftLauncher.java:180)
Caused by: java.lang.ClassNotFoundException: lg
at java.net.URLClassLoader$1.run(Unknown Source)
at java.net.URLClassLoader$1.run(Unknown Source)
at java.security.AccessController.doPrivileged(Native Method)
at java.net.URLClassLoader.findClass(Unknown Source)
at java.lang.ClassLoader.loadClass(Unknown Source)
at sun.misc.Launcher$AppClassLoader.loadClass(Unknown Source)
at java.lang.ClassLoader.loadClass(Unknown Source)
... 14 more