Green’s Dictionary of Slang

bugnutty adj.

[bug adj. + nutty adj.2 (2); prob. coinage by US comedian Penn Jilette]

(US) unstable.

http://antickmusings.blogspot.fr 21 Apr. 🌐 Some of us still want to do things that the rest of us think are bug-nutty.
[US]Salon.com 17 Nov. 🌐 You do that easy work surrounded by people who are full-tilt hormone-raging bugnutty. Everyone is panicked, desperate, yelling, swearing, attacking, backstabbing, failing to get laid and acting crazy.