Dan
It has been my bitter experience that should you pass the intial JAA(UK) Class 1 medical, the CAA will do their best to ensure you keep it. As I mentioned in an earlier post, a captain that I know lost an eye in an accident. The CAA 'bent over backwards' to allow him to keep his licence. I believe his medical certificate now bears the endorsement "may operate only as part of a multi crew cockpit"
I, as you and every other person in our position, have two working eyes, it is just unfortunate that one doesn't work quite as well as the other. The CAA believe that you cannot operate safely with monocularity due to a lack of depth perception. I have been told this many, many times by those gifted few at the 'Belgrano' however, as I said above, once you have a medical you'll find it difficult to lose it.
It is also interesting to note that on the CAA website its states "... experience has shown that monocularity is not a bar to safe flying" which, as you can probably tell, is a complete reversal of what they said previously.
To cut a long and sad story short... it depends on what mood the doctor is in on the day you take your initial medical as to whether your career will be in aviation... or stacking shelves in the local supermarket... It must be nice to play God!!
Keep flying regardless of the CAA.
BlipOnTheRadar