I was watchin a video about using bombs... It was used with Link, but I'm sure it works with Young link too... What they did was pull out a bomb, jump off of the stage, throw the bomb upwards, double jump, and up+b. Their up+b isn't high enough to get them back onto the stage, so they are about to fall to their doom. BUT WAIT! Just at that moment, the bomb lands right on top of him, exploding! It knocks Link into the air a little, and he can use his up+b once again! He makes it back onto the stage just in time to pwn the kirby that is awaiting.
So yeah... I don't nkow what this is called... I'll just call it 'bomb cancelling', since the bomb cancels the links' (and young links') burnt-out posistion where they helplessly fall to their doom, allowing them to wiggle out and double jump and up+b back to safety. This works best at higher percents, just so you know. And it may take some practice to actually make the bomb hit you, instead of just harmlessly bouncing off of your blade.