There is a BootStrap Recovery available for the Droid Bionic already! One of the most well-known modders in the community, cvpcs, has done it again and given us a great backup and recovery tool to help revive our Bionic when we get to tinkering. Below is a link to his instructions and a download for the utility.
Download and Instructions: BootStrap Recovery from cvpcs
Thanks for the tip, Berzerker! (here is Berzerker's original thread on the subject: [CWM] Bootstrap app officially released for the Bionic)