Probably needs some graphics engine updates to live up to its full potential, but sure, that could make for a cool event down the line. Unfortunately it' uninhabited and there aren't any inhabited systems close by, so no "evacuate neighboring systems" potential. But you could do something around a fleet of science vessels sent to monitor the impending supernova, hijinks ensue when one fails to jump out in time or whatever.
Now an upside to Betelgeuse being relatively isolated: the nearest star is over 5 LY away, so FDev has that much time to figure out how to make the skyboxes in neighboring systems display the supernova's progression. I've written here about how FDev could implement a scientifically realistic supernova scenario:
I think the Milky Way gets about 50 Novae/year and 1 Supernovae/50 years. These might constitute tourist attractions, material harvesting bonanzas, or neato dangerous events. Would be cool if they would cause frameshift anomalies as well. I imagine there might me some organics that would...
forums.frontier.co.uk
From wiki, it's due to pop "within the next million years."
Sure, that just means that, as far as we can tell from way over here, it's ready to go. Asteroseismology might tell us more in the coming years, as it's still a relatively new technique. But as of now it's about equally plausible that Betelgeuse lasts another half million years as that it's already exploded and the light hasn't reached us yet.