A first version of an Open Source Collada Physics Viewer is available.
It is based on Bullet Physics (Open Source, ZLib license, free for commercial use) and either FCollada or COLLADA-DOM.

For more details see https://collada.org/public_forum/viewtopic.php?t=455

For download information, please check the latest plugin versions post.

For more information about Bullet Physics visit http://bullet.sourceforge.net