While I would love to see another Pokemon as cute as Jumpluff, it's the only typing that has been done before. Even then it isn't super risky, I enjoy the way Bug/Psychic gives few relevant resists, as I feel that contributes to the risk factor a good deal.
Glad to see my suggestion for grass/flying up here :) i think the other two are better options though and bug/dragon will definitely be too good. draco meteor and outrage are simply not risky. maybe if outrage was used at the very beginning of a match but only a noob or a total moron would do that so yeah.
I really do like the Stealth Rock weakness, as I find that it fits the idea of the CAP quite well. Bug/Psychic is my primary choice, simply because I think that the Psychic typing will allow for this Pokemon to have some very dangerous weaknesses, which fits the CAP.