Bustles are much better than internally stored ammo since blowoff panels can be installed making it very safe for the crew.
Except that when the turret is unmanned there is no risk to the crew directly, whereas a turret bustle location for the ammo is very exposed to enemy fire.
All the propellent stubs igniting at once is one thing, but all the HE shells detonating at once because they are hit by a HEAT round will destroy the vehicle.
Even Abrams vehicles have been taken out by IEDs that are 50kgs or more of HE... each 125mm HE shell is about 20kgs of HE... times that by 10 and you have a small aircraft bomb inside the vehicle... it wont matter about blow off panels the shockwave will kill the crew without penetrating the armour.
Certainly having a turret bustle with ammo separate from the crew is better than live ammo throughout the crew compartment.
Having all the ammo below the turret ring with an armoured bulkhead between the turret and the crew compartment is even better because it protects both the crew and the ammo.
A turret bustle on fire will burn out an entire tank... it will burn for hours at very high temperatures and the heat will be conducted by the armour to heat the entire tank... everything plastic will melt all the wiring will short out... it will be a write off. And don't think you can pour water on it to put the fire out... it is propellent and explosive... it has all the oxygen and fuel it needs and no amount of water will change that.
Every design has drawbacks. Armata's layout, with the crew placed in the highest protected part of the tank, with all the ammo and fuel stored far away behind firewalls, IMO is the best layout possible for crew survivability, excluding a drone AFV.
The armata is a from scratch design... as you point out... they have thought about their own experience... note their original lack of turret bustles was from their own experience during WWII where they found the easiest way for infantry to take out a tank was to put a block of HE under the bustle on the rear deck with a short fuse. The explosion would either flip the turret off and ignite the ammo in it, or it would just ignite the ammo... either way the heavy frontal armour of the vehicle became meaningless... Note normally if you put a large HE charge on armour it sends a shockwave through but unless it is a huge charge it will do very little damage.
They have also looked at the experience of other armies like the US in Iraq.
An internal cookoff will kill the crew due to the explosion force not having any direction to escape while blowoff panels make the crew survive because the blast isnt directed at the crew compartment.
Explosives will take the line of least resistance... except when there is an enormous amount.
An example is with land mines. With tiny mines wearing a good heavy strong pair of boots can greatly reduce the injury from standing on a mine.
For normal sized mines however the general rule of thumb is a boot that goes up to your knee means you will lose your leg near the knee. A pair of gym shoes you will lose your foot at the ankle.
The explosive takes the body part at the weakest area. Really powerful mines however can do further damage so even if your whole leg is not blown off it will need to be amputated anyway.
Any sealed container like a tank will try to contain the explosion, which is really just a very sudden... you could say explosive increase in pressure. The increase is supersonic and travels as a shockwave of expanding hot gas. If it meets fuel or ammo further detonations will create further shockwaves. When a shockwave hits a flat solid object it usually reflects back the way it came and certain parts inside the tank can be damaged far more than other parts because of the way these explosive shockwaves are reflected and concentrated. Needless to say except for a very small explosion any weakness or opening in the turret will help release pressure. If a turret is fully sealed that doesn't mean that from all angles it has the same strength of the frontal armour. Some openings like periscopes and machine gun and main gun ports only have rubber seals. The crew hatches also will have rubber seals, which would all likely fail in the case of a penetration and internal explosion.
Needless to say a catastrophic explosion it doesn't matter how many points of failure there are... they will all likely fail and all hatches and even the turret might be lifted from the hull due to the enormous pressure.
Having said that for a penetration of a T-72 turret that does not have any loose ammo in the crew compartment and has the hatches open there will be supersonic debris and it would be very unpleasant and loud but unless hit directly by the penetrator both crew would likely survive.
Sure the engine will be destroyed if the bustle cooks off but is that worse than a blown off turret?
The temperatures generated by an engine fire will totally disable the vehicle... all plastic monitors and computers will melt, all wiring will catch fire or short out... a tank with a burnt out engine is no more use than one with a turret blown clear of the vehicle.
I wonder why the worlds best tanks leclerc, challenger 2, leopard 2A6, merkava 4, type 99 and T-90MS have bustles with blowoff panels
Probably to do with the fact that all the vehicles you mention except the Leclerc and T-90SM have human loaders who need to stand at the rear of the main gun to load it. Having ammo in the rear turret is handy for them to reach to load the main gun.
The Leclerc has two crew in the turret as does the T-90SM so in the latter case the turret bustle allows them to carry more than the 22 rounds that are in the under floor cassette autoloader and the other box containing 8 more rounds, while for the Leclerc it performs the same function it does on the other western tanks... keeping the ammo separate from the crew.
These considerations don't apply to the armata because the ammo is separate from the crew, while at the same time protected by the same heavy frontal armour that also protects the crew... I would say the western solution is good enough, while the Russian solution for the Armata tank is the best all round assuming the problem of situational awareness is sorted out (and I assume it has).