Steve,
You are most likely correct. It should reflect the available amount of current at that point, so what ever the fault calcs would show at that point - at the voltage involved [either L-G or L-L / L-L-L if the two are different], would be the thing used.
I'm not familiar with this person's calculator, just checked out the download page but did not download the calculator.
I have seen - and used - calculations like this from other sources [manuals and engineering books]. The typical use is, of course, a fault energy measurement, but there is another use - to calculate HID lamp arc power and other discharge lamps.
Did notice that this person does limit the values between 1KA and 10KA, which is quite useful in a majority of applications. This is not too bad for a freeware program [public domain].
Let me know how it looks [spreadsheet or VBasic application] and how it works out [easy to use, etc.].
Also, if it's a Macro, or VBA script[if you don't know what this means, don't worry!].
Scott SET