He'd probably have to switch-out the powers from Cyclops to pull that off, as it'd have to be a serious improvement to swap out the powers of Wolverine or Colossus (and he can't swap-out the powers of Deadpool currently). Same goes with Northstar's power; given the benefits from his flight power a replacement would have to include good flight capabilities (then again he held onto the powers of Angel for 5 years and that's hardly a really fast flight power yet he was fine with it).
Swapping out Colossus for Rage would allow for having ongoing extra strength and durability he won't have to turn on and off, although there is the benefit from Colossus's power of not requiring his internal organs and letting him take damage that'd normally kill from organ damage. Both together would be very impressive. Drop Cyclops or Northstar for someone with a power that allows for both flight and ranged attacks and get Rage in the other and he'd be exceptionally formidable.
Too bad we'll have to wait and see though, considering they haven't any members currently from that reality there's little reason for them to revisit it unless it was Blink going back to visit his grave or just visit with his version of the X-men so he could be back up and running now but no one would know. Given all the various timelines available why not make up your custom version of him and post him in Your Favorites?
I did a version of Professor X who ended up as Sorceror Supreme instead of Dr. Strange for example, for a what-If? that he ended up at the monastery at the same time as Strange while seeking a way to rescue his brother from Cytorrak's influence. Considering they have an official what-if? where Tony Stark became Sorceror Supreme and another with Dr. Doom it's not too much of a stretch, so why not present your version of Mimic from a timeline where he wasn't selected for the Exiles?
"A shared universe, like any fictional construct, hinges on suspension of disbelief. When continuity is tossed away, it tatters the construct. Undermines it."
-- Peter David
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