I would not under-estimate the external pressure in 900m of water depth. You may find that the governing criteria for the wall thickness is indeed the pipeline collapse. For the buckle arrestors, you will need even thicker pipe depending on the length of the buckle arrestor and the main line wall thickness.
If you have trouble finding the references, let me know your fax number or email address and I can send over some pages.
With regard to the costs and risks, I cannot give you specific numbers but point out the following :
The cost of the buckle arrestor (C1) will depend strongly on its design, such as wall thickness, method of manufacture, operating condition (e.g. sour service ?), etc. The only way to get this is to go for quotes from suppliers.
The cost of repair (C2) is directly related to the construction vessels involved. As the number of players able to lay this line will be limited, the costs can become distorted depending on market conditions, vessel availability, etc. You should have some estimate of this from your overall project cost database.
K is purely a guess factor, there are no historical data that you can base your values on. However, unless the pipeline is extremely long, I would suggest that you allow for the possibility of one buckle. Less than that, you are exposed to some risks. More than that, you could end up with a lot of spare pipe left over at the end requiring an embaressing explanation to the bean counters.
Regards