Do you have any idea what is setting off the lunging biting and nipping or the excessive excitement? Is it a particular tone of voice, hand gestures, clothing? Is it a particular time of day? Caeda, even when we got her pretty good with no nipping, would get nippy at night and at times that she probably should have been napping, so she would be kind of grumpy and "lose her manners" so to speak.
If there is a particular thing that sets it off you could try desensitizing to it. Caeda used to try to nip at hands moving around her face, so I started with a treat in one hand, and moving the other hand around her head (sometimes touching sometimes not), and treating her if she didn't try to nip. Also doing a couple of obedience commands while she was excited seemed to calm her a bit and get her brain working again. There's rev-up cool down exercises in a sticky that might help too.
If there is a particular thing that sets it off you could try desensitizing to it. Caeda used to try to nip at hands moving around her face, so I started with a treat in one hand, and moving the other hand around her head (sometimes touching sometimes not), and treating her if she didn't try to nip. Also doing a couple of obedience commands while she was excited seemed to calm her a bit and get her brain working again. There's rev-up cool down exercises in a sticky that might help too.