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I'm sure I'm not the first person to think of this list, but it interests me.

Cores
Ork Waagh! Band #1 615 Points
Warboss in Mega Armor
Mek Boy
3 Mega Nobs
6 x 10 Units of Ork Boyz
1 unit of Gretchen

Ork Waagh! Band #2 615 points
Warboss in Mega Armor
Mek Boy
3 Mega Nobs
6 x 10 Units of Ork Boyz
1 unit of Gretchen

Auxillary
10 individual units of 1 Warbuggy (250 points total)
7 Mek Gunz with a single Cannon (126 points total)
3 Mek Gunz with a single Tracktor Cannon (90 points total)

You'd still have better than 150 points worth of upgrades to sprinkle around.

Does the second waaagh! band provide any other bonuses other than the extra slots? I feel like only 1 warband is needed and then CADs as needed.

Are your infantry in trukks?

I like it as a fun spam list but I could see problems against template and blast heavy armies.

Yeah, the second waagh! band allows access to the next 10 auxiliary slots. No Trukks, but you could throw a few around. For instance, the warboss and 3 meganobs
Not saying that this is a good army... but it would control the board and with so many little units, almost any shooting that your opponents do will be overkill. There will be a lot of wasted shots and your opponent's efficiency will be way down (but you will auto-lose killpoints).