What game types have you come up with so far?
It depends on the scale/number of players in the game, but I would love to see a larger scale game where the bomb is at a static location, and then information about each of the wires (Or part of the disarm code) in 3 different locations guarded by the enemy team. So the more pieces of info they recover, the more likely they are to be able to successfully succeed at a last second disarm attempt, etc.
If you set the screws to require a lot of time to remove, you could also have it set up in an exposed central location and treat it as a sort of king of the hill type game, because it just takes a lot of time spent working on it to disarm it. So one team is trying to protect the person who is slowly unscrewing the panel.
These are just a few of the ideas I've had. Obviously you could do even more complex scenarios if you had multiple bombs, etc.