Another way to view it: a unit quantity of water at boiling point contains so much energy. It takes energy to create a unit quantity of steam- far more energy than that held by the same unit quantity of water at the boiling point of that pressure.
If the pressure is suddenly reduced, that water necessarily boils, as a way of releasing the excess heat, but becasue it doesn't contain enough heat to create an equivalent amount of steam, only a portion turns to steam. The remaining water gives up excess heat by reducing its temperature to a point just below the boiling point of the new pressure.
Thus the governing factor in how much water flashes to steam is the difference in pressure, or, more to the point, the difference in boiling point and the diference in heat-of-evaporation at those two pressures.
See ya
Jason