It seems to me that Shadow of Mordor fills in some gaps in the "official" account of Celebrimbor and the One Ring. It can be seen as consistent with cannon, if one assumes that the cannon is the recollections of eleves and men who were not aware of everything that happened.
We know that Celembrimbor was an incredibly talented elf, approaching closer to the skill of his grandfather than any of Feanor's other descendents. We know that Feanor and his brothers were capable of actively holding their own in single combat against the most powerful Vala, Morgoth - though only for a time and only in their greatest wrath. Mote importantly, we know that Feanor's creative cleverness, though not his pure magical "horesepower", outstripped that of even Aule (the Smmith of the Valar aand Sauron's master before he wwas sseduced bby Morgoth). Feanor could make more amazing things with less raw magical power than any other being in Arda.
It's thus not outrageous to imagine Feanor's greatest grandchild being powerful enough to stand up to a super-powerful Maia like Sauron. It's also not outrageous, indeed it's heavily implied in the cannon, that Sauron could not have made the Rings without Celebrimbor's help. Sauron was providing the magical horsepower, some of the basic know-know, and perhaps the original concept; but Celebrimbor was the talent. We know, for example, that the Three, the greatest of the rings below the One, we're made by Celebrimbor alone, after the 16 and without Sauron's help or knowledge.
So, the idea that Sauron sought to enslave the captured Celebrimbor and use his family as hostages to force him to help Sauron to "perfect" the ring isn't silly - indeed it's just the sort of arrogant, evil thing Sauron would do. And if you're going to modify or retrofit the One Ring, you're going to have to take your new slave back to Mount Doom to do it.
Moreover, the One Ring's "mind of its own" seems to be a unique feature among the Rings - yet also just the sort of subtle booby trap one can imagine an enslaved Celebrimbor might slip into the improvements and modifications made under Sauron's supervision - "So, you bear so much of your maker's nature, let's give you a will of your own and see how Sauron enjoys being "served" by an intelligence as duplicitous and ambitious as his own!"
Celebrimbor's theft of the ring and his brief campaign to become a rival Lord of Mordor ("the Bright Lord") then actually makes sense. Celembrimbor seems to have been the descendent of Feanor who least resembled his grandfather in pride, arrogance and vulnerability to corruption - but he was still a descendent of Feanor. The game depicts him taking the ring in a sudden move and slipping into the wraith world as a way to get momentary concealment from Sauron in his surprise and rage - that makes sense. And Sauron would have been surprised - after all, he held Celbrimbor's wife and children as hostages. But Celebrimbor was seduced by the Ring, as so many were after him. I also see Celebrimbor's use of the Ring to creat an orc rebellion within Mordor as relatively brief, a matter of a few months, definitely no more than a year. If it was that brief (but metioric, due to the power of the Ring), it's not surprising no one outside of Mordor knew of it - it was just a brief but brutal war among orcs that occured while Sauron was regrouping back in Mordor after sacking Eriador.
The rebellion also makes sense from the perspective of the Ring. It now has a will of its own and a personality very similar to its Master's. And here is Celebrimbor, an elf, a lesser being than its Maia master and thus presumably easier to influence and control, who has just demonstrated that, despite his lesser raw power, he's actually cleverer and more skilled than Sauron. Why would the ring not side with Celebrimbor? But as much as the Ring might resent and be jealous of its master, in the end it could not bring itself to help Celebrimbor destroy Sauron. In the end, it slipped off Celebrimbor's finger at the crucial moment (as it would later do to Isuldur) and returned to Sauron. And thus began the destructive, dysfunctional relationship between Sauron and his Ring that plays out over the millenia. Frankly, they deserved each other.