Increasing the explosion radius would be more along the ways of how I think it could be made more dangerous. Often I was pretty close to an exploding cap and nothing happened to me.
I think the double explosion is too much though, unless the first explosion is a much "weaker" one, so that only people with shields low would die. I don't think someone with full shields should instantly die close to the cap, but a bomber who's shields just popped up again or who's shields are low could be killed.
So, more like a first weaker explosion, and a second (final) explosion which does a lot of damage in a certain radius. (Can't it be done like with missiles/torps/mines? Or is the damage calculated that way already? The closer you are, the more damage you receive?) The big explosion should be able to take out shields of GBs which are very close to the exploding BS for example...
Anyway, just some thinking. I think two strong explosions would be too much.