It seems to do absolutely nothing, seriously, I notice no difference at all when it's equipped and I jump. I must be doing something wrong... can someone explain it to me. This is a serious question, I haven't used my Titan all that long so I'm just not certain how this is suppose to work.
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If you are sprinting, jump, and activate you jet pack, there is a slight increase to the speed at which you launch. This is very slight, and only noticeable half of the time. After the initial launch however, you return to the slow climb of the titan. It is not worth what you give up in the height gained from the first perk. Catapult is fun to try in Crucible once in a while if you are running around with a shotgun, but that's about it. Hope this helps a little.