Well, in Son of M the effects of Terrigen on Mutants were clear. It boost their power so much that it kills most of them. Of course Terrigen Cloud is not pure Terrigen so it's effect's can vary, but it was mentioned in All-new continuity that cloud is toxic to mutants.
Actually, that weapon wouldn't have any effect on the Kree. The Terrigen Mists have no effect on them.
Blackbolt had conquered the Kree Empire, and Vulcan (a brother of Cyclops) had conquered the Shi'ar Empire. Vulcan declared war on the Kree Empire. The Terrigen Galactic Bomb was supposed to turn all Shi'ar into Inhumans. The Inhuman royal family somehow thought that once the Shi'ar became Inhumans due to their bomb they would follow them.
Honestly, I don't follow their logic, and Ronan de Accuser didn't either... what prevented the newly empowered Shi'ar from conquering the Kree with their newly granted powers? I think the royal family take their rank TOO MUCH for granted.