It would make sense to have so kind of steam (I actually like the purple color) come out of the weapon mounts, where most flux is generated. To have it come out of the engine might be misleading, because they are the only thing that still works normally during venting.
A disadvantage of having it come out of certain points is that it's less easy to read at a glance if you are not familiar with the ship at hand. A compromise might be to have a ring of flux-steam come of the entire ship only for the first second, and then continue the venting through openings.
But honestly, I would be happy with the effect staying more or less like it is, just with sprites that are higher resolution and have smoother transitions between them. At the moment you can clearly count the 12 individual sprites.