The actual explosion of a supernova isn't really all that much "entertainment." It's an extremely bright flash. The formation of the nebula might be interesting. But that is a much longer process, starting at months and upwards to 100s of years. And, if you are far enough away as not to be fried by the initial flash, you will need very good telescopes to see the nebula expanding.
So the supernova that produced the crab nebula was observed on Earth in the year 1054. Now, through some very good telescopes, it looks like the following.
It would be pretty interesting to be able to watch that form. The problem is, it took 1000 years to get to that stage. Your audience would need to be quite extremely patient.
But they have hyperspace you say? OK. There is not a single distance to watch from. What you do is arrange to start at a very long distance from the explosion. In this case, about 1000 light years. Then, on observing the initial explosion, you start moving towards it in hyperspace. The idea is, you stop and observe for a short time. Then move closer, stop and observe, move closer, etc. What you wind up with is a "movie." You start with the initial flash, then the "firework" expands out as you move closer. Because hyperspace is faster than light, you adjust things so that over about 30 seconds ship-time (or 4 hours to allow a nice dinner and drinks), you move that 1000 light years closer. That means the apparent expansion takes 30 seconds, because you are travelling "upstream" of the light.
One interesting feature of such a scheme is, you can watch it many times. And from many angles. The light is "crawling" along at light speed. You can hyperspace over and go through the movie as it expands. Since the nebula takes 1000 years to get that big, you have lots of time to watch it many times from many angles.