But... but... you would lose the bear granade! I LIKE the bear granade!
Yeah, the bear grenade is pretty cool.

So reconsidering again, I think I went too far with my last edit. So instead I will just leave Storm of Claws and Fangs alone. This would give the Beast Ranger two attacks (one from him, one from his animal companion), which would bring him inline with the Hunter Ranger who also only has two attacks and gets by just fine.
And for multiclass characters the animal companion will continue to gain HD regardless of class, but will only get ASIs from Ranger levels.
So to recap:
Replace the Coordinated Attack reaction attack with +1d8 damage when the animal companion hits a creature the Ranger attacked on his last round. This makes it similar to Colossus Slayer in power.
Beast's Defense is unchanged. Advantage on all saves increases the durability of the pet.
Storm of Claws and Fangs remains exactly the same at 11th level, which is inline with the Hunter's Whirlwind Attack.
Superior Beast's Defense is unchanged, buts gets a minor boost as it is now not competing for the pet's reaction with Coordinated Attack.
Hit Dice increase every level, regardless of class. ASIs are only received by the animal companion if the Ranger gets it from Ranger levels.
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