Do you think the new Indeedee will be viable in this deck? I know the obvious thing is to play Irida to get rare candy / Baxcalibur on turn 2, and like you said you don't even need to get the turn 2 Baxcalibur because Palkia VSTAR should get you enough for a turn 2 KO on a basic pokemon or basic pokemon ex. But it seems like Indeedee would be another viable option, especially on the first turn going second.It will probably be a "Moderately Competitive Potential" deck (by the JustinBasil scale) or a "tier 2 deck" (by the ZapdosTCG scale). Yaginku points out that it's primary flaw is it's frailty. Although it gains a tool card that can increase it's bulk, and Lost Blower isn't in very many decks, running a tool card to compensate for bulk is not foolproof. Baxcalibur also takes time to set up, though Palkia VSTAR could get you attacking quickly by Turn 2, making your starts more consistent.
I feel like a Chien-Pao deck has a surprising amount of cards that it synergizes with. Radiant Greninja is a great partner for Chien-Pao's energy search. Palkia VSTAR can make up for a turn where you don't have Baxcalibur. Irida is a great card to get Baxcalibur into play. But other cards like Indeedee or boost shake seem like great turn 1 options so that you don't have to play Irida on turn 2. Water even has access to other forms of acceleration like Melony and Froslass, although it is hard for me to imagine playing either of those cards in this deck.
The more I think about it, boost shake is just strictly better than Indeedee. But my point still holds, would boost shake be good in this deck? You could even Irida for boost shake on turn 1 going second. I do agree that consistency is not as much of a problem for this deck as fragility, so I'm not sure if boost shake would be prioritized over the +50 HP tool card.