I bought two of the 'older version' targets some time ago, and used one to build a 'target box' which reacted with sound and lights to IR shots.
Then I put the target box inside a scratchbuilt foam bunker, and used it as a 'final mission target' during some IR battles.
The target circuit is connected to a relay, operating a sound card, some red leds and a smoke generator. It also acts as a switch for an external power supply (if you want to drive an external mechanism). A 2nd custom sound (usually a victory march) can also be operated through an additional external switch, which can be hidden under a pressure plate and commanded by the weight of a passing tank. But the possibilities are endless.

During testing, the sensor reacted to any kind of IR emission I used: TV remote, Heng long with DBC, Tamiya Battle Unit, VStank IR, even a laptop IR port!

Therefore your problem will not be 'how to build a working target' with it, but 'how to avoid every existing wandering IR signal to trigger it'.
It was also incredibly sensible from Ir beams bouncing off walls or objects: I had to allow just a pinhole of light inside the target box i built to avoid a shot pointed completely elsewhere to trigger it.
I think the newer version shares the same IR receiver than the older one, just including a relay to drive the external sound card (I had to assemble it myself).