We present an experimental scheme that combines the well-established method of velocity-map imaging with a cold trapped metastable neon target. The device is used for obtaining the branching ratios and recoil-ion energy distributions for the penning ionization process in optical collisions of ultracold metastable neon. The potential depth of the highly excited dimer potential is extracted and compared with theoretical calculations. The simplicity to construct, characterize, and apply such a device makes it a unique tool for the low-energy nuclear physics community, enabling opportunities for precision measurements in nuclear decays of cold, trapped, short-lived radioactive isotopes.