The idea of the spacejammer crashing into Gothic Earth would work I believe, but I actually was thinking of Planetary - not the World of the Worlds. The concept of this being investigated (and who is to suggest the Red Death wouldn't allow this in - just at least to mess with human minds!).
I have always believed that Gothic Earth was a lot closer in feel to Vampire or Call of Cthulhu than the original setting, and thus was a lot darker. There are still the elements of winning the battle, not the war when it came to the Red Death (unless this has been revised in the new rules - I only just recieved my copy and haven't had a chance to read it) and although I don't recommend using the Call of Cthulhu background (if you say Hastur too many times, your players run paniced from the room), but I've used the basic ideas in Gothic Earth Campaigns with success.
Now, if only I was running Gothic Earth again!
Just a note on Odiare - I believe this was always the only Ravenloft realm that had its origins in Gothic Earth and I got the impression that it was meant to be the ONLY one. Some of my old adventures have cross-overs, but unless you really do it carefully, the Gothic Earth weapons and attitudes don't cross over well. - a word of warning!