I was in sort of the same position however I'm short sighted and my right eye failed the initial limits.Like you mentioned they offered me the chance to get a deviation to the medical,which has duely been done and so I can continue the chosen path to commercial pilot.
However I too had thought of the FAA route as possible way to get myself flying.Ask the CAA themselves for advice as i remember one guy there during my medical being told he didnt meet the necessary standards tho if he went to the States etc he could come back and transfer over.
What I'd certainly have to say is don't give up!! If it is important FIND A WAY!
