I was thinking of another solution earlier:
I will steal two of your formulas as they are quite easy to derive:


The solution relies on the fact that
iff 
. The verification of this requires some computation, (in fact by fermat's little theorem the smallest solution must be a divisor of 100, therefore it suffices to show that no other divisors,

,give

.
Ie: we have established that the
order of 2 mod 101, is 100.
Now we have:

\equiv 2^b (2^{d-b}-1) \mod 101)
[3]
Now here is the crux move. Consider the following two statemnts:
a.)

b.)

Then either BOTH are true, or BOTH are false. We cannot have one without the other. This is a consequence of [2].
If both are true we are done(since this would imply

and

), therefore suppose both are false. (
hypothesis i)
then the factors
)
and
)
are both not congruent to 0 modulo 101, since

and

by
hypothesis i.
Moreover
\equiv (2^{d-b}-1) \mod 101)
but both factors are not 0 modulo 101 hence they are relatively prime to 101 because 101 is prime. Hence we can cancel them off from both sides in [3] to get:

which implies

. Hence

and

in this case as required.
hence the theorem is true assuming

has x=100 as the smallest positive solution, which can be verified by computation.
This doesn't seem like such a good putnam problem, i could solve it with some boring algebra (which i let you do for me) followed by some pretty obvious theorems in first year uni modular arithmetic/group theory, not to mention the ugly computation that awaits in verifying that 100 is indeed the order of 2 modulo 101.