If you see the data I took in the image, I got the data from watching the thrust values reported by the game at different altitudes (I paused it) for two engines (the BACC - 100% and 50%, + and x respectively; and the RT-10, 100% and 85%, diamond and triangle) but didn't get around to checking for the liquid motors. My bet is that it's probably close because it worked for both others. It probably holds - close - for all engines/motors with a F_asl/F_vac ~ 0.8.
The equation literally came from checking values based on my supposition that the equation was a constant related to max thrust allowed with a natural log addition (subtraction, really) that deminished with altitude.
That said, while I like you're equation (frankly more than my own), there must be a more generic form of it because that varies using an experimental value and pressure (ASL, Kerbin) related.