Okay, I figured it out. It does work. It's basically a similar explosion to Dead Man's Trigger but doesn't kill the Bomber. Actually it appears to do more damage. From pixel analysis of the health bars in the video of the Gold Mine in the foreground (using a 100% crop), Kabooooom!!! did 21 pixels of damage whereas Dead Man's Trigger did 12 pixels, making Kabooooom!!!'s damage 75% greater.
Only them being dizzy afterwards suck, but I still use the skill when I need to breach a wall.. pronto..
