Man, I didn't even finish the second half. I saw what I need to see. You need to upB more. It's that simple. UpB will neutralize a boomerang if timed right, and there is actually a brief bit of lag after Link draws a bomb that you can take advantage of if you upB as soon as you see him drawing a bomb close enough. Play link, draw a bomb, and then mash A to throw it. You'll see it takes a bit of time before he can actually throw the bomb. Whoever said be more aggressive... Word. Against Link, ESPECIALLY a campy Link, being aggressive is your best bet. You gain nothing from trying to avoid his projectiles. He, on the other hand, has everything to gain if you can't approach him.
Umm... Know also that a fair or nair will repel a rang. Yeah, you need to use upB more.