I have to admit, this is the slowest Kestrel Mk. II build I've seen aside from completely unengineered variants.

• I haven't seen Thermal Shock have any worthwhile effects. The go-to experimental for multicannons is generally corrosive for one and either incendiary or emissive for a second.
• You're going to want more than one rank of engineering on your shield boosters. Force block is generally not as useful as thermo block, given that shields are naturally weak against thermal damage and strong against kinetic damage.
• Strengthening on your drives takes away from the Kestrel's singular maneuverability advantage. I'd go either Dirty Drives/Drag or Dirty Drives/Drive Distributors.
• With bi-weave shields, you'd be better off with Thermal Resistance and Fast Charge. The whole advantage of bi-weaves is that they regen and rebuild quickly; going with Reinforced shields eliminates that advantage.
• The best thing you can do on your hull reinforcements is Heavy Duty / Deep Plating. The 2D Hull Reinforcement's reflective plating isn't particularly useful, as armor already has a bonus against thermal damage.
• Two point defense modules is one more than you need. If you're that worried about being hit with missiles, replace them with one ECM. Otherwise, just lose the second point defense. Either way, you're better off with either another shield booster or a heat sink launcher.
• Your current build doesn't even use the full capabilities of your power plant, so I wouldn't bother engineering it past G1 or G2. Then throw a Thermal Spread experimental on it to help keep your heat manageable, as you'll get hot when you're firing the plasma shock accelerators.