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This Deck was built in 0:04:34

Total Deck Size: 40
17 Lands
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1 Island
6 Mountain
8 Swamp
2 Izzet Guildgate

17 Creatures
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1 Bloodfray Giant
1 Desecration Demon
2 Frostburn Weird
1 Grim Roustabout
1 Lobber Crew
1 Perilous Shadow
1 Rakdos Shred-Freak
1 Rakdos, Lord of Riots
1 Rix Maadi Guildmage
1 Sewer Shambler
2 Splatter Thug
2 Tavern Swindler
1 Tenement Crasher
1 Volatile Rig

6 Other Spells
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1 Assassin's Strike
1 Blustersquall
1 Chemister's Trick
1 Cremate
1 Launch Party
1 Traitorous Instinct

 I think the two best decks to build out of this pool are Azorious or Rakdos. I chose Rakdos after seeing how little removal was in the pool. Launch Party and Assassin's Strike are basically it. The Rakdos deck gets to use both of your removal spells, has an agressive curve, and can win through both agression or a late game finisher. Splashed blue because the last few cards were just too unplayable without it.

Specific cards of note:
- Frostburn Weird: This card is great even if your only one of the two colors and is amazing if you are both. Works on both offense and defense.
- Lobber Crew: Another card I think should go into any red deck (and sometimes even get splashed for); it gives agressive decks reach and can be a win condition in a slower deck.
- Volatile Rig: I was unsure about playing this, since it could potentially ruin your game plan by killing all your agressive creatures. I think in this deck it should be played as a finisher to get in the last points of damage: if they don't block it, it kills them. If they do, there's a chance it still kills them.
- Blustersquall & Chemister's Trick: These two cards fill similar roles; they either let your agressive guys get in on the next turn, or buy you time to win with a finisher. There are better cards in blue to splash for (Voidweilder), but I felt that they were too slow, while these two cards advanced your agression plan (the one that needs the most help)
- Cremate: I like to run this main deck. Sometimes you get lucky and it matters, but at worst it just cycles for B.

I think the Azorious deck would work as well, its actually very similar. It has an agressive flier plan backed up by powerful finishers. It really just came down to the removal for me. 

This Deck was built in 0:07:52

This pool was interesting. Rakdos and the Desecration Demon definitely pulled me to playing BR, but by themselves didn't seem consistent enough for me. Put Azorius midrange instead. The early game is good with two and three drops, dips a bit, but the two Isperia Skywatch and Sphinx of Chimes should be able to close games out. Three Seller of Songbirds I thought was great for two bodies early in the game. 

Total Deck Size: 40
17 Lands
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10 Island
7 Plains

18 Creatures
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1 Azorius Arrester
1 Fencing Ace
2 Frostburn Weird
2 Isperia's Skywatch
1 Judge's Familiar
1 New Prahv Guildmage
1 Runewing
3 Seller of Songbirds
1 Sphinx of the Chimes
1 Stealer of Secrets
1 Tower Drake
1 Vassal Soul
1 Voidwielder
1 Volatile Rig

5 Other Spells
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1 Blustersquall
1 Cancel
1 Dramatic Rescue
1 Inaction Injunction
1 Righteous Authority

EDIT: Also, did it over with 5-color good stuff and the results seem interesting. 3 gates and 2 Axebane Guardian make it seem feasible. 

This Deck was built in 0:11:54

Total Deck Size: 40
16 Lands
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4 Forest
4 Island
1 Mountain
2 Plains
2 Swamp
2 Izzet Guildgate
1 Selesnya Guildgate

19 Creatures
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2 Axebane Guardian
1 Azorius Arrester
1 Desecration Demon
1 Doorkeeper
1 Fencing Ace
2 Frostburn Weird
1 Hover Barrier
1 Judge's Familiar
1 Lobber Crew
1 Rakdos, Lord of Riots
1 Runewing
2 Seller of Songbirds
1 Sphinx of the Chimes
1 Stealer of Secrets
1 Trestle Troll
1 Voidwielder

5 Other Spells
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1 Assassin's Strike
1 Blustersquall
1 Inaction Injunction
1 Launch Party
1 Righteous Authority