Basically, i'm not sure whether full Armor yellows (+9 Armor) or full Health yellows (+72 HP) is better for jungle camps in the current meta?
Also, a quick bonus question because I can't remember: Does magic damage dealt from items like 
respond to your magic penetration?
72 hp is dog shit and i'm willing to bet 9 armor saves that much in less than 2 camps
Depends on ur champion in terms of ur full runeset up. But armor yellows definitely wins out in the jungle.
Typically squishy junglers all have unique things about their kits that allow them to jungle. I'd try to find a high level guide somewhere for the champ you want.
My Kayle runes are this http://www.lolking.net/summoner/oce/363021#runes
I dont know much of wich is meta or not. So despising values and maths, by logic armor ones are better cause in jungle you will only take physical damage, while health ones are supposed to be balanced for both physical and magical damage. Its like the AS runes over the AD ones cause you will be attacking the whole time.
-Second question: I guess it works.
