Sorry about the double post - Thought it was better to make a new one, or some people who wanted it might miss the info they wanted.
Heres some info I have taken from my text book - NOT MY OWN WORDS.
"A rise in Pco2 causes an increased production of carbonic acid (h2co3) which is formed from carbon dioxide and water, acting to lower the pH. Carbonic acid dissociates into HCO2- and H+, increasing H+ concentration hence acidity. This stimulates nuerons in the aortic and carotid bodies which are sensory structures known as the peripheral chemoreceptors, found int he aorta and carotid artery. These send impulses to the respiritory control centre in the medulla oblongata which stimulates increased breathing.
The brain also contains chemoreceptors, but they are not able to detect H+ in the blood as blood can not enter the brain. After a brief delay, the increased blood Pco2 also causes a decrease in the in the pH of the cerebro spinal fluid bathing the brain. This occurs because blood does cross the blood brain barrier and combines with water to form the carbonic acid and the H+. The H+ ions stimulate the central chemoreceptors in the brain"
Taken from Biology - Raven, Johnson, Losos, Singer. 7th Edition. International Edition, chapter 44 (p.932 "mechanisms that regulate breathing") 2005 (A dam fine book!)
So that clears that up! Some extra stuff -
The peripheral chemoreceptors make short term changes regaurding the loss of C02 from the blood, accounting for 30% (ish) of repiration increase. The central ones take longer to act, but are more long term.
Theres loads of diagrams and chemical reactions if you want to look at the book in more detail. (A dam fine book!)
About the locusts - I checked my notes, but can't find if they have chemoreceptors or not, but yes, no lungs. Spiracles do indeed open into trachea which diffuse O2 directly into cells.