This is something I know about so I'll comment. Wormerys usually don't smell but they do eventually depending of course on what you put in there. Its not probally a good idea to have it in your bedroom because that will be an issue for you. If you can find a seperate room outside preferably i.e a garage or shed this would be much better. If you can't then its up to you. Don't feed your worms anything citric they don't like acidic shit and don't expect to see much once you've added them. It takes along time for them to get going and the biggest mistake you can make is wet moist conditions. They hate it. Avoid adding water at all. Don't know if you said your making your own or buying a starter kit but all wormerys need a kind of neutral bedding medium because being exposed to everything that's added all of the time would harm them.

The bugs you've heard about are infact fruit flies and you don't generally get large amounts unless what's added is really rotting and decaying and wet. Read up more about it I would say check out OG but it ain't there