[KG64_Cnopicilin]

Getting hit in the right spot in air his loadout would explode?

The bomb wouldn't explode, before ordanance is dropped the fuse is activated, take Jettisoning stores for example, some bombs were fit with Impact fuses, therefore Jettonising the bomb would cause it to detonate.
For example taking the SC 500 Luftwaffe bomb. It has a thickness of 0.3 on the wall to
3.2 inches in the nose. That is a thickness of 7.62 millimeters and towards the nose 81.28 millimeters. Plus taking into factors like ricochet and the bullets loss of Energy and the fact that the bomb is made from steel, the odds of piercing the bomb are very low and even if it did it have to hit either the fuse or the explosives, at which point the bullet has probably stopped because it ran out of kinetic energy...

Just my 2 cents.

And also like Cnopi said about exploding drop tanks, now that would be good, even tho on Mythbusters it was proven that you cannot ignite the fuel in a fuel tank using bullets, there is simply not enough heat and energy to cause the fuel to ignite, but considering that planes in IL-2 have tracer rounds that burn coloured chemicals as they fly, it technically should be possible to ignite the fuel in the drop tank, which was proved on Mythbusters using tracer and incendiary rounds I think.

We can already light the fuel tanks in wings, so why not the droptanks?