Admittedly Colin Baker's era wasn't a high point, but there's no way that incoherently written, lazily directed, amateurishly acted piece of rubbish could be the best he got. Not when you had Robert Holmes contributing two and a half serials to CB's run. I definitely remember enjoying "The Two Doctors" a lot more than this.
YMMV, of course, but I still enjoyed Vengeance. I loved the setup for The Two Doctors, loads of potential. However, I thought it ended up being far too long and the story grew tedious as it went on.