but you are missing something:
explo01 setvelocity velocity plane1
and i would change this:
explo01 = "laserguidedbomb" camcreate [getpos plane1 select 0, getpos plane1 select 1, getpos plane1 select 2]
to this:
explo01 = "laserguidedbomb" camcreate [getpos plane1 select 0, getpos plane1 select 1, (getpos plane1 select 2)-1]
just to insure that it doesn't blow up the plane