Well worm that walks transforms you into vermin and demonic vermin transforms vermin into magical beast, but I don't see anything on why it couldn't be put on swarm so...
Well as gm I could do it anyway, but yeah I want to know if shenanigan I'm planning is actually legit raw :D
Worm that walks is an acquired template, Demonic vermin can be acquired or inherited, so RAW it can be done.
The cumulative effect of the defensive abilities is decidedly powerful.