Can Volcano just decide to destroy Presence with Explosive Eruption without triggering any of the other effects (for the benefit from Collapse in a Blast of Lava and Steam)? Can it destroy more than it needs to?

Can Volcano just decide to destroy Presence with Explosive Eruption without triggering any of the other effects (for the benefit from Collapse in a Blast of Lava and Steam)? Can it destroy more than it needs to?

Yes.
Formally, "Destroy X [Presence]" is just a part of the innate that doesn't require any elements. Doing so counts for the Power to have been considered "used", for things like Scream Disease Into the Wind, even if you Destroyed just 1 Presence (the minimum for that Power).