I really like the use of the spikey squirrel dubbing its a wonderful body material. I used it several years ago for my nymph patterns, but have shifted my tying away from nymphs lately. I think many of us who have been focusing on delicate mayfly dries have subconsciously started reaching for the "convenient package" instead "of cutting off the skin" for most of our flies. Then we go back and rough up the synthetic.
I believe the Cooper Bug was originally tied to represent a caddis emerger (?)/ terrestrial/ attractor. The pattern goes back a long ways. For Smokies Trout, MY suggestion would be to tie it down what you have down to a size 14 or 12 2xl hook. I'd sub a more buoyant material for the wool and use a paste floatant to keep it in the film. I'm sure you will catch trout on them.