I like the idea and it may go some way to shift the balance on the "fighters are now too weak" argument by concentrating the fire power into one activation. Spread out and gain the initiative sink and get picked off or concentrate firepower and lose it.
As similar arguments can be used for movement, should/could the initiative during the movement phase be handled the same way? You count/activate stacks with the fighters moving to separate hexes if desired. Even though the argument is not as strong in movement, I like the idea of fighter initiative being handled the same way each time just for simplicity's sake.
It has been mentioned elsewhere about only counting ships/fighters for combat initiative which could participate in combat.
http://www.mj12games.com/forum/viewtopi … amp;t=3665
On the issue of stacking fighter miniatures I place small dice, one colour for full strength flights and one for damaged, alongside a fighter miniature.