Yeah, I remember the CE B5 game as well (he says, looking at it on his shelf). I did like the hit locations element though - at least in concept. The timeframe of the CE B5 game was a bit odd though - it began after the Earth-Minbari war, and finished at 'The Coming of Shadows'.
Plus, at the start, there was some bizarre import restriction on getting it (the US version) to the UK, until they produced a UK version specifically. Something to do with the licence, IIRC. I never got the Earth Colonies book (can't remember if it actually came out), but did get the EF book.
Not a patch on the Mongoose stuff though. The CE stuff is somewhat interesting (mainly the stuff around the forming of the Babylon Project, and Senator Natawe), but only for reference these days, and becoming less so with every release Mongoose do.