I wrote this tool as I was sick of the default collapse tool crapping out when trying to collapse large amounts of objects. So far this has tool has been pretty rock solid. I mainly use it when I need to work with CAD files that I have imported. It is pretty self explanatory.
I am currently working on the code to create a multisub when collapsing it is mostly working now there are just a few small things I need to fix up to make it more robust. As soon as that is ready I will update the script.