This would still be an useful SEXP for other uses as well. I could name a number of situations where this would be useful, such as making the impact of a particularly powerful beam seem that much more powerful (the beam won't necessarily knock the hull to 10%, but if it takes off half of the hit points, the ship's going to be in a hell of a shock) by having the ship spark up for a bit and maybe lose the glowmaps/points for a few seconds. Having some sort of control over the lightning's intensity would be nice as well, but that's entirely optional.
On an unrelated note, is it possible to make it so that the thruster glows don't show if the ship's speed is 0?