found it. % is the modulus operator (in PHP anyways...) which is just technojumbo for the remainder of a long division operation. cog toothcount divided by the modulus of the gear ratio.
[cog] / %([ring] / [cog])
See post #10 in this thread for a mathematical explanation of skid patches and how to calculate them:
http://www.bikeforums.net/showthread.php?t=166218