Nope. The mod I'm talking about is focused on animations (explosions, fire, smoke) and sound.
You probably mean TorpedoDamageFinal V2.0. It's basically just some .tga pictures that are projected on ship hulls when you hit them with a torpedo. A simple mod, but it looks quite good; here it is:
http://www.subsim.com/radioroom/down...do=file&id=962
Both mods can be enabled through Jsgme. TorpedoDamageFinal V2.0 shouldn't conflict with anything. With sh4damageforGWX I'm not so sure.
That depends on any other mods you might have installed. If you already have a smoke or fire animation mod enabled, disable those first.
I have had some mod compatability problems, but never with this mod, so it'll probably work for you too.