I stumbled upon this old deck the other night and had enough fun with it that it sparked a desire to give it a makeover.  The general idea behind it is to Intuition for the Gigapede/Wonder/Anger, but I'm running a secondary combo with Sylvan Library/Words of War (which I can't even remember if it is legal).  Anyway, I want to drop the Words play (ba dump) and finally give this deck some focus.  Hoping someone might have some fun ideas.

Here's the current decklist:
2 Gigapede
3 Roar of the Wurm
2 Squee

2 Wonder
1 Anger

4 Intuition
3 Compulsion
1 Gifts Ungiven (own 1, had it in to try, always wished it were an Intuition)

4 Counterspell
4 AK
3 Hull Breach
1 Ancestral Recall
1 Regrowth

(Combo 2 - Want to completely dump out of the deck)
3 Sylvan Library
1 Memory Jar
1 Words of Wilding
1 Words of War

1 Sol Ring
1 Strip
2 Wasteland
3 Moxen (on color)
12 Duals
2 Wooded Foothills
2 Gemstone Mine

As you can likely tell by the decklist, I don't get out to many tourneys.  I play just as much multi-player as I do 1v1, and as such I have a nasty tendency to enjoy variety in my decklists...a little too much so.  But I like the synergy and think it can be improved fairly easily. Moving on, what I'm hoping to get into (and out) of this deck.

IN:
- More quality U/G/R Intuition targets.
- Removal, either mass removal or just quality efficiency.  Was eyeing Stormbind, but feel like it could run into similar problems that Words do.  Kind of dumb with counters as well.
- Mana accel could help.  I'd love to pull off a semi-reliable turn 2 Intuition, turn 3 Pede.
- I need a sideboard for this thing so I can bounce between formats.

OUT:
- All 6 of the secondary combo.  Yeah it's fun to swing with 3 2/2 flying bears every turn, but its rare that I actually want to spend my mana to cast the Words.  It needs to be its' own deck.

CAN BE BETTER?:
- Hull Breach.  I wanted targeted a/e removal that was versatile enough for 1-v-1 and 2HG, and this isn't bad.  Still, I'm open to ideas (especially since I'm going to build a sideboard)
- Counterspell. It's great, but the UU is tough.  Leak-type counters I played with and they didn't feel reliable enough
- Gifts Ungiven...2 and 2 doesn't seem to suit the deck well, at least yet.
- The mana base.  It was neglected pretty badly.  I know I don't need all 12 duals.

Please, have at it.

Same thing with Fading counters, cumulative upkeeps, and plenty of other "during you upkeep this card kicks you butt somehow" effects.  Even shuts down your opponent's Forgotten Ancients and the like.

Great casual card.

Really, you are not a fan of Tides of War?  I'm giddy for that card in our big Multi-player games.  Let's say I have Tides of War and Krark's Thumb both in play: If I also have a single Wirefly, Frenetic Efreet, whatever back to block, would you attack me considering there is a 75% chance that you'll lose all of your creatures before combat damage even hits the stack?  I'm telling you, that thing will be a monster in MP.

Anyway, that is a nice looking deck.  Interesting to see it in mono-Red.  What is your opinion of Planar Chaos?  Honestly I'm afraid to play it in MP b/c I'm afraid that my group will ban me, but man have I been tempted.  Seems like such an evil trick to pull off.

And Pizzatog, I'd love to see that deck in action!

I have a similar deck (no Encounters, more beatdown) and all I have to say is Thumb/Gambit is freaking insane if it works (which it does fairly often).

I recommend a couple of cards to check out:
Goblin Archaeologist - I know you are going up against some difficult artifacts.  This will scare your opponents.
Bottle of Suleiman - Great, cheap flying beatdown.
Crooked Scales - Excellent with Frenetic Efreet.  Mogg Assassin works as well.

Get in that 4th Thumb, it is essential to the deck and superior to Goblin Bookie 95% of the time.  I'm not sure of the ruling, but if Sculting Steel and Copy Artifact don't pick up the "Legendary" super-type I'd run those (and will once I find out the ruling).

The reason I don't run Chance Encounter is two-fold.  1) I'm not crazy about its alternative win 2) The important one, my group plays a lot of enchantment/artifact destruction - it has NEVER gotten to 10 for me.  That is why I run more beatdown.

Goblin Bomb is similar to Chance Encounter, but slower.  It will take at least 5 turns for it to work, but most of the time you are looking at 7+ turns (mathematical probability).  I've never come close.

I haven't tried Squee's Revenge with the Thumb yet, I'd love to know how it does.

Boomerang does not do enough in here to warrant a slot.  Sure its cheap, but if you are really trying to pull your own creatures back to your hand it is a poor choice.  The same could possibly be said for Capsize, since it will take a long while to get up to the 9 mana to Rat-size softlock.

Turbulent Dreams too is not a great choice for this deck since you are not actually drawing any cards - you'll either run out of a hand before you use it effectively or you'll simply want to cast the other spells.

Some cards I'd suggest looking at:
Curfew - Very cheap, and does two distinct things to help you.
Cavern Harpy - It is a reuseable (and very difficult to stop engine) for BU and 1 life.
Umbilicus - Start it up and let it do its' thing.  Doesn't require you to keep wasting cards on returning your Rats to your hand.
Sunken Hope - 1 more mana than Umbilicus, but likely superior in your deck.  If you were to run either Umbilicus or Sunken Hope, I'd heavily consider upping your 187 creature count (Nekrataal, Ravenous Rats, Rishadan Brigand, etc.....splashing Green for Wall of Blossoms, Eternal Witness, and/or Mystic Snake could be another idea)Crystal Shard - Props to thesengirvampire.  Very cheap and very effective.  More reliable (and cheaper) than Dragon Mask.

Beyond that, you are playing Blue yet not playing any card-draw.  A good CiP 'draw cards' creature would help you here (and this again would be a good place for green to step in, though Phyrexian Rager could work).  If you happen to own any Intuitions, they too could be solid since they also work with your AEther Bursts.

Hope this helps.