Yes, I've found a small (well, sort of) bug that gives archers a huge boost in attack power.
I've tested both with and without mods, and also have the latest version installed.
Here's how I stumbled upon it:

I went straight to Embershard Mine to test out some of the damage and armor and all that.
(I do this every time I make any modular changes to the combat, because this is the closest area to Helgen and an easy testing zone for lighting effects, level lists, etc.)
Well, I happened upon the first two enemies in the cave and immediately engaged them.
And when I shot an arrow point-blank at one of them, and did a shield/bow bash immediately afterwards, the enemy died instantly.
It was the first time I'd ever noticed this, so I did some more experimentation and found that the arrow and the bow bash take away more than half of [a humanoid's] health.
Took off all the race altering mods, then the combat mods, then cosmetic mods, and finally stripped it down to vanilla to see what could do this
But it works even with vanilla Skyrim.
This was splendid for me, since I always thought that the bow bash wasn't that effective, but it still feels like a cheap way to kill.
Has anyone else discovered this?

Sounds more like the fact that your save file might have some mod data still attached to it making bow stun attacks stronger. On my 360 version a bow bash does about 1/8th health damage.

That's the thing.
I tried a bow bash without firing an arrow, and yes, the damage is minimal.
But shoot an arrow first and then bash right after, and the damage increases quite a bit.
I also erased all related game saves and ran more tests. Same results.
About to run some more tests right now.

Okay.
I've been playing with wood elves for a while now, and of course, they take away much more health with the combo than other races.
But others still give a good chunk of damage with it, about 1/3 of a health bar.
Not sure if this is included in console versions, but it's definitely in the PC one.