It seems that the whole collision damage calculation is due to a revision and value exposing. Right now, it's rather inflexible, and the formula seems arcane.
For example, it'd be nice if collision damage could be easily controlled, and ships could be forced to vaporize on a crash. Perhaps a special effect could be defined when crashing into a specific model (useful for ships with unusual hulls or landscape models). I'd also like to be able to make a ship vanish upon a crash (combined with the previous effect, it'd make for a neat "splashdown" effect in the water). I'm sure other modders can think of more uses.