Risks:
For you:
They can say no. I'm not sure how that's a risk, but you might perceive it that way.
It's an entirely different job, but if it's the Company itself that you don't like, lack of promotion and salary increase, then little is different.
I don't know that going back establishes you as a "failure", but you should expect the interviewer to dig into why you left each place and their risk to take you back.
That's what's the biggest consideration, for them; the company's own concerns are what they will focus on the most. I don't see how an unsuccessful interview will necessarily doom your future with the company, though you can certainly play a part in that.
Your alternative choice is to secure employment elsewhere (or return to school) that will impress them in a future interview, more than a few years later.
For them:
They know if you made money for them, a large company ought to be able to hire expert number crunchers whom can exactly determine your value. If they hire you back, you stay a week, and they make 100K that's 100K they otherwise would not have had, if you only represent a loss you won't be hired.
If you made money, burned no bridges and were a great employee then there's little risk for them; that's all they need to know.
If there's a lot of training and probationary period, and various excuses to justify reasons to make up a complaint, then they're likely to try to sell you on the idea that you should be paid at the bottom of the scale while you prove yourself over an even greater period of time - despite their 'worried face' and feigned protests that's good for them as you knuckle under, but obviously it's no good for you.
Your optimal route to return is to make yourself a huge success elsewhere and take various courses over the years to cement your role for returning directly to an executive position with all the perks ...
But if they are large and cheap, and stagnant for advancement, difficult in so many ways, you should consider leaving IS your advancement opportunity and make your success elsewhere - why let them think that no raise and no advancement will bring them crawling back if they leave.
You're sending the wrong message, unless that's the message you most prefer to convey.
Many places are funny about you leaving, after you actually leave. It's leave if you must, it's OK, but we can't pay you anymore. You leave on great terms, everyone is everyone's pal; but when it comes down to it you are crap for having left and there's underlying resentment - at least you'll know what is what sooner than later; and can plan on never returning.
By the same token, IF they seem the least interested you should press for a handsome raise and various perks you didn't have before; if they want you back it's on your terms - that may not be well received but that sends the correct message. It is what I do, but I earn the company too much to let me leave in the first place; though most places don't like to admit it because others would want more money for their years of toiling.
You really need to weigh your own options.
I'm quite sure an early return will invoke the idiom: Same s, different pile.
