E.g.:
I claim that I authored the string "foo bar" with hash "1f2ec52b7743687..".
Now you find a collision and go to court arguing:
>> Your honor, but "3HSSHog*8FF9 z!!!!ady94765&$^#" also has the same hash!
I think the court will still assume that "foo bar" is the correct original, not the garbled collision data you produce. And you still can't deny that the original produces the correct hash.
The problem is that I can author "foo bar" and "moo bar" constructed to hash the same, and then assert retroactively which one I meant. While collisions are likely to have random binary garbage in them, it may not matter - I am on phone now, but IIRC I have two PDFs on my desktop that have the same MD5, one of which viewed is an airbus pamphlet, the other being a Boeing one. (created by Dan Kaminski, IIRC)
http://th.informatik.uni-mannheim.de/people/lucks/HashCollis...
http://www.win.tue.nl/hashclash/ChosenPrefixCollisions/ has a multicollision: 12 PDF files with different content and the same MD5 hash.
Perhaps using a combination of different hash algorithms that we know are secure today to certify a file together would be a potential solution to the problem. It's not perfect, but at least this way all the algorithms used need to be compromised for the certification to break.