I mentioned this in my Knockdown Throw Traps thread thing. But no one seemed to have read that
But as for its utility I think you are spot on. For the douchers spamming +frame D1s (Nightwing) EX Grab is nice, I feel that you should try and backdash away first. Since all they need to do is jump over the Grab and then hit you with a short hop attack into a combo (NIGHTWING!!!).
I feel that on wake up if you have enough time to do EX F3 and absorb their wake up, then you should do that since it nets more damage then Grab.
This is all theory BTW so I might be completely wrong, but yeah.