Bug/Psychic is ideal and easiest to make risky. I question whether or not the reward will be substantial enough to warrant that risk. If the end result is a pokemon that no one wants on their team because the risk is too high, it is a failure.
Also, the artwork of Bug/Dragon would just ooze awesomeness.
Not only have I been waiting for a Bug / Dragon Pokemon since RBY, but its fantastic offensive STABs and poor defensive typing (with four common weaknesses to Flying, Ice, Dragon and Rock) will, I feel, fulfil this CAP's main objective of Risky Business very well. Bug / Psychic's mediocre STAB combination and multitude of common weaknesses (Fire, Rock, Flying, Dark, and Bug... and an uncommon Ghost weakness to boot) mean that it would be very difficult for it to be rewarding to use effectively.
It was a close call, but I feel like that the combination of the frail bug type combined with the risky moves of the dragon type is perfect for this CAP project. Psychic seems just too safe with it's diversity of moves that it has.