I've spent a lot of time making the ammo behave as it should. At impact the missile will:
Check how much ammo is loaded.
Check how much bullets are in one ammo item.
Fire the bullets (or projectiles of any kind) as if they were fired by the correct firearm
Spread the projectiles based on the amount of explosives loaded.
There are some hard caps so not too many projectiles are fired (For example 300 firearm magazines would fire so many bullets at once, it would crash the game).
Note: This will not work for some kind of ammo. Laser ammo types will not work as they are hitscan and this is practically impossible to code for all different types. I did my best to include as many different ammo types as possible.
The List of your payload examples:
1x nuke + empty + empty = One nuclear explosion (Just like when firing the nuke by yourself) pretty much at the center of the missile impact
10x nuke + empty + empty = Ten nuclear explosions, all centered pretty much at the point of impact
1x nuke + 1x Explosives + empty = A nuclear explosion, a little inaccurate
1x nuke + 50x Explosives + empty ) = A nuclear explosion, very inaccurate
1x nuke + 50x Explosives + 50x Explosives = A nuclear explosion so inaccurate, you will probably nuke your base
10x nuke + 50x Explosives + 50x Explosives = 10 nukes clustered widely around the point of impact. Should be total devastation (Also including own base?).
It will also work for capsules and other throwables. A missile with some explosives and poison capsules can potentially eradicate a very big biter nest.
I hope this helps understanding the way the mod works.