Uh, they could easily just do a wakeup and stuff your shit. Cyber Sub's bomb setups aren't a free ride.
After the bomb, block and wait for them to react. If they dash block forward, do B2 2 for the pushback (or B2 2 slide if you need the extra stun to push them into it). If they jump at you, uppercut. If they jump back, anti-air slide or divekick. If they dash back, you can take something of a risky measure andeither slide or dash-up throw; the slide should be too quick to block on reaction out of a dash, so they have to anticipate it somewhat. I suppose you could also dash into your 2 1 pressure/mixups just to get the ball rolling again. If they do a wakeup attack, well, you're blocking, aren't you? There's really no way to go wrong with this one, because your opponent is almost certainly going to get out of the bomb's way; it's only 8%, but if the bomb hits while you're in a neutral state, you can easily just let go of block and immediately launch another bomb due to the amount of advantage, which puts the pressure back on them. There's really no reason to rush in and do 2 1 pressure unless you're 200% sure your opponent isn't going to do a wakeup.
Anyway, the combo you posted is his best midscreen BnB, whether you end it with U4 slide/U4 mid bomb/U4 close bomb (teleport), and so on. The easiest way to time it is to input the dash early. If you input it shortly before the animation of 2 1 1+2 ends (right around the time the sword actually hits), Cyber Sub will dash immediately coming out of the animation. As soon as you see him start to dash, just hold up and press 4. As soon as you see the up 4 come out, just input the slide. This is probably the easiest way to land this.
As a general rule, there are a lot of preemptive dash inputs in the game that make certain combos significantly easier. For instance, to follow up Cage, Liu Kang, Kung Lao or Cyrax's X-rays, you can input the dash around one second before the X-ray animation ends (you'll get a feel for it with practice), and it makes it MUCH easier to get a followup. In Cyrax's case, this is the only way I can pull it off consistently. This is also extremely useful for certain D4 jails, because if you have to dash up before you can hit with a followup string, you may be a few frames late and miss your string if your timing isn't tight, so you can just input the dash before the D4 animation ends and wait for it to come out, then go from there.