Knobber,
Congrats on the pond renovation!
Some woody plants certainly can re-grow after lots of damage to the trunk and growth that was above ground. However, I don't think they should be a problem in your situation.
The forbs and grasses that were on your shoreline almost certainly did leave abundant seeds in your spoils. These will definitely try to re-grow!
Your plantings around the pond have two separate but related goals. First, quickly create a ground cover to resist erosion. Secondly, what vegetation you desire around your pond for the long term.
I am not an expert on erosion control, but I would think that the MDOT grass mix is fairly optimized exactly for erosion control! Further, a good grass turf is your first line of protection against the pre-renovation plants re-growing. It is hard for weeds to grow through solid grass turf that is stealing all of the sunlight and soil moisture.
If you do not like the look or maintenance of the MDOT grass blend after a year or two, then you can start altering it for your final vegetative cover.
P.S. Are you familiar with your local NRCS agent? If you have a good one, he might be able to give you some actual expert advice. Further, if you say the grass seed is for an erosion control project, they might subsidize the project or have a program where you purchase the grass seed at a discount.
