I thought I had Patch 4.1
My explosions involve the following:
-Two ghosted plains with animated explosion textures applied, pointed at the camera at all times.
-About 20-40 debris objects, depending on the size of the explosion.
-Two shockwave animations, on ghosted plains that expand and fade out.
-Sparks that shoot out and fade out.
-Create objects that fade and rise up.
-Create one large debris object representing the blown-up object.
All the above depends on your in-game options, all can be turned on or off, except for the main explosion.
Here are some screenshots (very old, but you get the point.)
Xander - Bolt Software
It doesn't matter if it is confusing, as long as it works