Torpedo Spread is an AoE attack, High Yield Torpedo is a extra-damage attack. Essentially, if you're faced with multiple enemies who are clustered close to one another, and you want to damage them all at once, you'd use Torpedo Spread, but if you want to blow up just one enemy whose shields you just punched through, HY Torpedo is the skill for the job.
In short, Torpedo Spread seems wasted on a single target, and HY Torpedo doesn't help you against multiple targets.
Not good in solo. If you in team and people attack different ships, yes. But 1v1 this skill is a waste. I mean even you damage a shield of 1 enemy and try to shot spread torpedoes at him he may not even get damaged sometimes. This AoE skill has way too wide spread. It is useful only in mass battles like squadron against squadron in PvP, say couple cruisers loaded with torpedo launchers and launch spread from a few ships to support the front lines. maybe then its useful. Like an artillery sorta, other than that its meh. I haven't found any good use to it in 12 levels. Taking ships out 1 by 1 works much faster.