Plot hole: The use of massive explosives to separate a ship makes no sense as the explosion would send fragments at high velocity in every direction guaranteeing it would penetrate whatever ship is remaining. As we see in the final scene when the ship does blow apart, it is not a precise controlled detonation to sever connections but a total (and glamorous) explosion which makes no sense whatsoever.
Suggested correction: The explosions breach the outer hull, pulling the debris outward with the explosive decompression, the film shows the ring shaped explosions at both ends of the corridor. The debris wouldn't hit the lifeboat because it is heading in a different direction.
Plot hole: An engineer on a rescue ship seems to be the first person instead of the entire planetary intelligence community and the NSA (as reported by Dr. Wier) to translate basic Latin from what the Event Horizon's captain said. Somehow nobody else with all the vast resources of the NSA and other government organizations could clean up the transmission to determine exactly what was said?
Suggested correction: The recording of the Event Horizon's captain was taken directly from the ship's log. It was only available to the crew of the rescue ship at that time.