Could display every faction on the perimeter of a circle. When two factions are engaged in an attack they are highlighted. I'm imagining a pie where each slice is one faction. Highlight the two attacking factions by coloring their slices: red for attacker and blue for defender. The ships could be placed either on the rim of the pie or within the slice. This approach should still work even if the pace is increased 10x. Hrm, writing about pie slices has made me hungry...