Sorry for the delayed response but, I had to think about the question and, take a peek at C-BUG again. I find the question itself interesting because fine buoyancy control, is of particular interest to me, (although by different methods). So this is an exercise in basic buoyancy control for me as well.
In our application, we have buoyancy and thrust as our 2 ways of changing depth....correct? For the glider method,...... eliminate thrust.
I'm not quite clear on the "suspending" piston idea but, in thinking about this "non-powered" mode of changing depth, we're left only with manipulation of buoyancy...correct?
This had me thinking about , what manner of "ballast control", would I personally feel comfortable with in this application and,... like you,.... I feel air is unattractive for the ascent phase as..."failure is not an option".
So for my "glider", in the negative buoyancy phase, descent would be initiated from a positive buoyancy condition on the surface by, standard venting of soft tanks. The positive buoyancy ascent phase, would be by releasing lead shot via some type of failsafe release mechanism, (electromechanical).
Hope to be of some help and, thanks for the mind bender!
Joe