I watched these 2 back-to-back last night in honor of this thread. I prefer Ticks--mostly because it knows what it is. It's a fun, goofy B movie that never aspires to anything more. The Nest takes itself a little too seriously at times--and it spends too much time trying to ape Jaws. It only serves to remind you of what an inferior rip-off it is.
The character backstories in both films are dull and ridiculously hackneyed. But Ticks spends a lot less time on those elements than The Nest. For a while The Nest seems like Melrose place with its love triangle and broken family plotlines. Ticks gets to the bug mayhem quickly and keeps the action coming.
Supporting performances are mostly terrible in both films--with Clint Howard and Terri Treas doing some of the worst work I've ever seen. Treas stands out more because of the semi-serious tone of The Nest. She's so inept that I'm surprised she ever worked again.
Neither film is boring or among the worst the genre has to offer. But I'd much rather re-visit Ticks.