Yes, there would be. Unlike the current model, players with a higher lag would profit from it as they would have a much lower probability to be in a collision at all.
To illustrate (with numbers made up on the fly, just to show the principle)
Player A: Ping/Lag 30
Player B: Ping/Lag 30
Player C: Ping/Lag 300
Player A and Player B are about to collide. Total lag is very small, so collision is seen on both FE's - CRASH
Player A and Player C are about to collide. Total lag is quite high, so collision is NOT seen on both FE's - wuuush, no crash
Player A and B have a high chance of being part in collisions, player C does not. This is unfair and has a big impact on flying tactics - player C can fly through enemy planes guns blazing with low risk, 'great' for killing bombers.
Are you making this point backwards? What you discribe in all cases is the way it is now. Player C yanks the stick into me and collides with me and my plane comes apart. I get a collision meassage saying "I hit so and so" and he flies off with no damage. I realize player C missed me on his screen. The complaint is that Player A did not initiate a move that caused a colision, nor could he avoid it. Same for a bandit zooming your 6 oclock and crashing through you, you get a collide and crash and he flies off with no damage.
I think the OP, would like it changed to where if the front end recognizes a collision, both planes get a collide. You computer knows what two parts of the planes collided on your front end, so that info could be sent through the server to the other plane and he could be damaged too. Of course the down side of that would be the guy who didn't hit someone on his screen got an "unfair" collision message.
So both situatiions are "unfair". Those in support of the current system feel that it's more "unfair" to give a collision message to a plane that never saw a collision, than it is to give one to a plane that did see a collision, but the collision ends up one sided.
I've only played long enough to play under the current system. I accept it as good compromise.