VIZ's translation = TCB's translation.
Sandman, like many people, find that the "This is bad" translation is more accurate, because if you take the Japanese words and you translate them in English, that's what you get.
However, the Japanese words don't mean shit in English, it's just an expression sentence and what they mean depends on the context. It's like "OHHHH" or "WHAT???".
"This is bad" = "I'm seeing stars" = "Tu m'as eu sur ce coup" (you got me on this move, official French)
= "Holy fuck" = "WTF BRO???" = "FOR REAL?" = "I'm done"
VIZ's translation is the most fitting considering the situation, Kizaru is literally seeing stars and the attack is named "White Star Gun". VIZ did it better but the problem is that it causes confusion to the people who don't understand this.
TCB's is the most accurate for the Japanese words that were employed and causes less confusion.
BOTH translations portray the same thing however: urgency and concern.
This expression occurs right after Luffy's punch, it is Luffy's punch that directly makes Kizaru feels this way.
No wonder you like the admirals if you read this whole series with your admiral glasses and come up with random nonsense.
This explains it best as I said. TCB = VIZ, you are just too blind to see it and people who argue this don't understand shit to what they are arguing in the first place.