I thought that loud "bang" that happens when Ryback's in the ring (and does that swing of his arm, or whatever it is) was pyro as well. I guess since it's not, that explains why they don't show it on TV (I was wondering about that as well).
I agree with the OP, Ryback's entrance does seem like it needs something to make it better. I wouldn't change his music, since (like others have already said) it recently was changed.
There's something about seeing him standing on the entrance ramp, right after he comes out that seems like he's missing. I don't know what that something is, it just seems like something else should happen during the arm stuff he does on the ramp. When he's looking at the floor, it reminds me of Goldberg (when he would breathe the smoke). It's when Ryback finally mouths along with "...more" that he looks up, then starts walking toward the ring (that "intense" walk he does reminds me of Goldberg as well).
I don't know if pyrotechnics is necessarily the answer, I feel that having pyro go off for him might just make him seem too generic. I know some of you said that pyro makes a wrestler's entrance seem unique, but I feel that logic is backwards. Everyone who uses pyro kind of seems the same, with the exception being Kane's (since no one else has each of the ring posts "explode" with fire like he does). If Ryback is afraid of pyro (I think I read that earlier in this thread? I had never heard that, but I guess it's not that crazy if he is), maybe a couple of smoke machines could be used so he could appear to "emerge from a fog" or something like that. With certain lighting, it could be pretty cool. Maybe the arm thing we see him do could be shown as just Ryback's shadow - either with Ryback behind some fog/smoke, or even behind some kind of screen that makes his silhouette appear to be twice his normal size. Then he could "emerge" from the smoke, or rip through the screen or something like that.
If they don't end up using fog/smoke machines and/or shadowing behind some kind of screen, then I think a simple lighting change could be another answer (like others have suggested as well). I know a lot of wrestlers have had the "lights out" entrance (Sting, HHH, Jericho, Undertaker, etc), but the lights wouldn't have to go all the way out...just having a different color on him, or dimming the lights half-way could drastically change the mood for Ryback's entrance.