For bullet You do not need anything special other than actually go to particle fx tabs calculate and calculating the particles as well for them to spawn from the fractured mesh, preferably you would set particle emitter to key and set a keyframe when the mesh hits the ground our similar.
Another way is to use collision events, but then you need to engage the old dynamics for particles and collision event.
Now all that is spawning particles from the mesh surface or mesh vertices depending on how you set the spawning method.
For applying a full emitter, which mostly is more useful for full trail smoke.
There is indeed some scripts to track points and spawn particles, but you may also solve it with old softFX, you add it over the mesh..turn off operators so it i set to none, the hit calculate, then do in to the softFX editFX tab and pick any fracture piece with the mouse and go to commands make path, you will then have a null applied to that piece and it follows that track, that way you can quite simple add several nulls and particle emitters to smaller pieces, then select the nulls and apply particle fx on that, but it will only spawn particles from that emitter attached to the null, nut the mesh itself, but the result may look like that since the null is following the selected fractured piece.
I would however recommend saving out ..baking the bullet fracture to mdd first(mdd baker, de activate it, then add mdd reader) so you only have to deal with calculation of the particles.
Oh...noticed, you have to many chunks to add nulls to.
I would probably look in to fluids instead, or gas solver...if not using turbulenceFD, bake it to mdd and I would use blender for the fluid smoke on the pieces, then depending on, render in blender, or importing back as vdb to lightwave and render there.
Will see if I can find the scripts.
Sample vid, no plugins..just calculating particles on bullet items...
