C++ is much harder to subset, because the various (mis)features lean against each other for support like a tower of cards. It's not stable, but it's even worse if you leave some of the cards out. Even compiling C under a C++ compiler lets the nose of the camel in, as it were, due to const correctness. And (depending on your runtime, but this is required by newer standards) the moment you use new, which you have to use in many ways, you now have a situation where your program can throw an exception.
However, I think it would be great for someone to design a sensible subset of the language. Provide a lint tool (like Crockford's JSLint) which can enforce the subset. Marketing will be the hard part - a buzzword/name will be extremely useful for branding/word-of-mouth to work. A name will make it sellable, and identifiable, as a language of its own.
Although once you know what's going on under the hood you should be fairly safe - it just takes a while, and probably a read of Modern C++ Design or something like it in order to provide the motivation for the effort requried :)