I am a caitlyn player myself, even if I rather find her difficult at times. I agree with everything you placed here as the AP power really doesn't do anything apart from just slow them if your trying to get away, or get to someone and the traps are just predictable as they can be seen. I really don't think they should be, but I don't think removing the traps should be a good idea as it's like another ward and it useful to grab the sniping chance. Maybe they could be changed to AD. Being manually able to de-activate her ult would be a total lifesaver, because sometimes you can accidently fire it when spamming moves to get away or whatever and then it's wasted and put on a big cooldown when you don't want it to. The only time you can get it back is if a ally kills the enemy before you as you fire it. That's a pretty amazing idea. The two new moves though, they are good aswell, it's just a hard bundle since caitlyn needs a getaway move other than just flash and everything. But slowing and stunning could be useful for that instead.
With the only main attack move 'peacemaker' it is really wasted, because without it and your ult you actually can't really do anything. The channel time is really annoying as players can see and then move away like you suggested. She's so annoying to actually get damage and she's useless if caught because she can't stun, apart from her trap but people can see and then easily avoid = death.
Even though I cannot explain what I want to say perfectly as my english describing sucks and everything, I do believe this is a good idea and I approve 100% :>
Theres balance issues there I think but overall I like it much better than her current kit. I believe the traps to be problematic and unbalanced in a way for an AD carry. But you even provided a solution for catching people for clutch peacemakers, though im a little confused as to what would happen IF the champions cuffed together try to walk opposite directions and how that will feel from the other end. All in all though I would have to say after this idea undergoes the mallet, this skill set would polish her nicely (and give her a kit that feels whole).
While snaring cuffs is an interesting skill, removing her mobility skill is a bad shout. The same with her traps: yes, they aren't amazing, but they add utility. She works amazingly with cc-supports as she can chain it. I think just changing her traps to make them feel more like they've just got their legs caught in a bear trap - large chunk of initial damage, bleed for sight, grievous wound, etc, maybe.
I also think it's flat out over-powered that she rips off Nautilus by having the on-hit stun (while he only has a snare), and that Peacemaker now has a knockback. Too, far too much crowd control on an AD carry.
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