If "Needing some highly specialised report, or the ability to tweak some feature in some allegedly unique way", the best and cheapest way to do that is to talk to the developers of existing bug tracking systems. Pay them to put that feature in their application, make it available to the world. Instead of reinventing the wheel, just pay the wheel manufacturers to put in spokes shaped like springs.
Otherwise, if trying to showcase a framework, its all good. Just make sure to put in the relevant disclaimers.
To the people who believe bug tracking system are not difficult to build, follow the waterfall SDLC strictly. Get all the requirements down up front. That will surely help them understand the complexity. These are typically the same people who say that a search engine isn't that difficult to build. Just a text box, a "search" button and a "i'm feeling lucky" button, and the "i'm feeling lucky" button can be done in phase 2.