i think Dialogue sounds (i.e : Build voice, attack order, Pirate raiders have left there base, planet module complete) all have priority to the current sound playing. no voices "stepping" on each other. if an event sound is playing wile your corvettes build sound ques, it will not play. nor will play after current sound is finished. it just skips it.
i think explosion sound layer up to 5 and the have priorities. hope that helped