This is probably silly of me, but if you had an understanding of the mach subsystem this is pretty straightforward to understand, no comments necessary.
Instapanic on 10.10.2 (build 14C109, xnu-2782.10.72~2), without root.
See also (works on iOS and OS X (if you change the target in Xcode)): https://github.com/jdmoreira/KernelPanic-10LOC