This is to send a torpedo frigate to enemy patch as fast as possible to start attacking at their resource collectors to slow their production down, or make them get gravity well and bombers to slow down other build.
To do that, based on Crimson Bond placement, typically a player goes 1 scout or 1 collector and 1 collector from MS and 4 collectors from CC, making it a total of 11 to 12 cols depending on whether you get a scout for yourself or not. Then, on MS, you get research module followed by frigate module then hyperspace module.
CC will just sit there after getting 4 collectors.
When MS gets frig mod and torp is on build, you will soon get improved torpedo research, but not right after it's available as it will probably lag.
When properly done, torpdo frigate should be sent toward other side at 3:50 or so, making the initial attack start somewhere at about 4 minute from the start of game.
It is important to scout or probe to find at which place you should send torp to. Sending a single torp costs you 1250 ru for the hyper and torp cost, and unless you make good damage to other side, you're the one losing more ru. So, obviously, sending too many will result totally on your loss.
To defend against it, you will simply scout and find out a frig mod on some cap ship and you will start getting a single grav well on 1 side, and keep about 2 or 3 bombers on other side where torps will land. 2 grav well doesn't hurt, but going too protective is a little risky. So, there is nothing afraid about hypertorp if you're awake.
Torp frigs does not win the game, but if somehow other side was weak enough to get screwed with a few torps, you can start making advanced res mod on MS after sending the first torp and get 2 to 3 more collectors on CC to go total of 14 cols, then start making frig mod on CC when arm is about 70% done and mobile refinery on both patches. When advanced res mod and frig mod are done, you start pumping flak and marine. When each of the frigs are about 95% done, you will make another frig's queue on top by changing the build priority to keep frigs not popping out but stack in the queue nearly built. If you do it proper, you will queue about 2 to 3 frigs each on MS and CC while getting cloak and grav on CC to get ready for jump.
After that is done, you will jump both ships to same location, maybe hitting their grav well and start pumping flak and marine to capture enemy ships with help of team mates.