Thanks to everyone who replied. I've implemented a small module,
Islandora Metadata Extras, to provide a configuration option to show the collection label in search results. The solution I've chosen in Extras implements a single hook to alter each search result on the fly and doesn't interact with the code I cited in my original message, so using it is completely optional. While I appreciate the approaches that store the collection label as a Solr field, I want to avoid having to reindex our Islandora instances if possible.
As I say in the module's README, I'm probably going to consolidate a couple other small modules I've developed to tweak metadata display (Empty Metadata Values, Compound Parent Metadata) into this one, so that we can manage the options in a single place and reduce the number of installed modules.
Once I do a bit more work on the Islandora Metadata Extras module I'll add it to the Awesome list.
Mark