As mentioned above perhaps AIS could help with this situation (mine was pre-AIS by many years), if it is functioning on both vessels and if someone is monitoring it.
Personally, I'll not trust my life to an electronic device that may not be installed aboard the other vessel, can be shut off because the operator gets tired of hearing the alarm go off incessantly, or for any other reason.
If it is a commercial ship, then it has AIS, and has to monitor it, and cannot shut it off. Pretty much the entire merchant fleet relies on AIS for safety, and it is mandatory in several countries that all boats have AIS. AIS is relied on world-wide for ship crossing situations more than navigation lights now.
There is something disconcerting about a watch keeper on a freighter not seeing a masthead light until it was only a few hundred feet away, and not picking up the boat on radar at further range.
For those of us not on freighters - rather at sea-level - masthead lights are seen much further away than deck-mounted lights. I can't count the times I haven't been able to see deck lights in medium seas on small boats.
Like George, I'm having a difficult time understanding how nav lights get out of alignment. I can see them being originally installed out of alignment, but not getting randomly whacked out.