Escort order has a reputation for getting ships killed, especially non-carriers. To alleviate this, probably best split into two similar orders, henceforth referred to here as "Assist" and "Protect". In implementation, one of the two would likely retain the Escort name.
Assist: Generally follow ally ship around, but outside of that, coordinate fire on ally ship's current target and look out for your own safety. Likely most useful for ordering around those 'hammer' ships that pack noticeable firepower but still prefer to let an 'anvil' ship engage. Default order when assigning right-clicking on an allied combat ship.
Protect: More or less the existing Escort command. Generally follow ally ship around and try to keep them safe. Engage on nearby threats and soak fire as needed. Useful for ordering around ships that can take a licking and keep on kicking, or for protecting civilian targets. Default order when right-clicking on an allied civilian ship.