Here's something I found odd. I placed three ships in FRED: Red 1, Blue 1, and Blue 2 where Red 1 is set as the player ship. I used Red 1 as a camera ship. At one point in the scene, I wanted to change view from the camera ship to an external camera right in the path of Blue 1. I was planning to do the camera shake here but I decided to check it out first. So after I made an event that placed Red 1 way out in the distance out of the external camera view (In my first try, I got a command message telling me that desertion is punishable by death

so I disabled command msgs in the next try), I went ahead and ran the scenario. But as soon as Blue 1 got to the external camera, game said I was killed from a collision with Red 1. How can that happen when Red 1 was way out at 10000000, 10000000, 10000000? And moreover, how is it possible for a player to collide with his own ship?
In any case, I tried it again, this time placing Red 1 a bit closer (somewhere within 10000 m of the other ships) and that ended up working without me getting killed from a collision.
As far as simulating a camera shake, it's not so simple to do. Especially in what I'm trying to do which is have the camera track the passing ship as well as shake as the ship passes close. Would really be nice to actually have a camera-shake sexp. I'll keep working on it though.