A group of T-6 type aircraft were taking off in sections of two aircraft each. Each section of two were making a formation takeoff with a 5 to 6 second interval between sections. N58740 was in the left position of the 2nd section; N9801C was in the left position of the 3rd section. During takeoff, an aircraft in the 1st section had an engine problem and the pilot aborted his takeoff. He made a radio call to notify the other pilots and the pilots of the 2nd section aborted their takeoff. However, the pilot of N9801C, who was leading the 3rd section, did not hear the radio call. His aircraft had poor forward visibility while the tail wheel was on the ground; therefore, he was not aware that the aircraft ahead were aborting until he raised the tail during the takeoff roll. By then, it was too late to avoid a collision. Subsequently, the left wing of N9801C struck the rudder and elevators of N58740 and both aircraft were substantially damaged.