The scamcoin craze is merely a byproduct of the larger bubble.
Unfortunately you have a good point.
If only there were ways to short sell anything besides LTC.
I'd never risk that. Who's to say that scamcoin #19 won't replace scamcoin #1? And really, after having seen Blightcoins move to an alltime high of ~.052 BTC per which translates into a valuation of 20% that of BTC (both eventual supplies), who is to say it can't happen again?
I can only recommend to anyone even thinking about it, don't do it. Don't short Bitcoin either.