Never condumped myself but apparently "The file can be found in Tremulous\base\condumps. If the specified file already exists, the file is overwritten."
I will mention that it was incredibly easy for me to find that information. Just typed 'tremulous condump' into google and it was the top link.
I'm interested how bad is 'really bad' to you? I can think of many bad things, but none of them involve condumps.