As a note, these are merely my observations and it seems to follow this ingame. There is a 'correct' way of CMing. Spamming the button is not the correct way. If you spam the button then the CD, that was 'lost', follows the 'latest' CM which is often right next to your ship. And since the TCD has such a large blast range it typically hits you in it, even if it doesn't hit -you-.
If you press the CM very few times with intervals between them a much higher percentage of CDs will miss you. I tried this out of my RM GB and actually managed to hit cruise and fly for a good 5-6 seconds before one finally hit me. And this is CD spam from about 6-8 ships.
Distance is also very important for CM effectiveness as you have to increase the range between your ship and the CM that was dropped so you don't get hit in the blast radius. If you're less than ~2k away from the ship its unlikely you will escape. Mainly due to the largest 'flaw' in cruise, and that's you have to cut your speed to impulse to charge.