I'm not sure I remember that, Cookster. The Germans had a multi-rocket-firing thing on wheels called a Nebelwerfer. The G.I.'s may have called those rockets "Screaming Mimi's" but I could be wrong about that...that might be the name for the American rocket devices which were mounted on some vehicles, like tanks or halftracks. The Russians also had rockets...Katyusha rockets, mounted on trucks. The Katyushas are still used today by a variety of Russian-supplied forces. Many of the Muslim fighters in the Middle East have employed them.

Seems to me that the generic German words for "rockets" is "raketen" or something like that, but I can't swear to it.

As you suggested, "tank terror" is a good enough translation of Panzerschrek, and it has a better ring in English than "armor fright", I'd say.