Hey rossrov,
Ok, been meaning to post this info for a week or so now. I finally found a potential solution for the fiber TX/RX with full-duplex, and audio. I've found a couple actually. One very expensive setup, and one seemingly affordable solution, just the wrong size for me but wanted to pass the info along for everyone.
My ultimate goal:
4 Video Channels (ambitious I know but really hope to get forward/reverse/up/down views without much switching)
1 One-way Audio Channel (alarms and general interest)
RS485 Full Duplex communication (four conductors)
Cost - affordable (I didn't really have an idea of what they would cost so I was "hoping" for under $300.
Expensive Options:
After much explanation to three less-than-techie sales reps, I got one local distributor to offer up a solution that may have almost fit my parameters, but missed the mark on the price by a long shot.
Description from Marketing material:
"The ComNetâ„¢ FVT/FVR412(M)(S)1 Series transmits four channels of video utilizing
state of the art digital encoding and decoding for high-quality video transmission,
along with two channels of bi-directional data and one bi-directional contact
closure over one single mode or multimode optical fiber. ...
http://www.comnet.net/comnet-products/v ... 12ms1.html
Cost: Total = $2,250. ($1,125/ea. for the TX and for the RX separately). HA!...I think not. Not sure what they were smokin'. Perhaps they can be found for cheaper, but it still doesn't hit the mark without the audio channel, and I didn't even bother to look at the dimensions or power requirements.
NOTE: The company offered up another multiplexer just for the audio which was an additional $500 for both the TX and the RX together. Not ideal for many reasons...
Reasonable Option:
I saw a post on this forum (somewhere) where someone bought a device off of ebay but it didn't have what was needed to make it full duplex. I also had seen a couple of those types of units on ebay and they all lacked my specs, especially the four-wire full duplex comms for RS485.
So, I started contacting a few of the overseas companies and got one positive response. Actually, whomever was on the other end had pretty good english and we were able to communicate pretty well. The persons name was Queenie...and that just made it that much more interesting.

Other companies did respond, but they could not modify their units as Queenie was offering.
Anyway, check the link below:
http://www.ebay.com/itm/1CH-Data-Digita ... TM:US:1123
The ebay seller is "safer-guard"
Cost: $270 - $320 (with mods)....much more reasonable.
It shows as sold now but you can still see the specs. I'm sure others units are available.
Basically, this specific model can be modified (upgraded) to RS485 four-wire full duplex for just an additional $25. It has everything else I wanted. 4CH Video, 1 CH Audio, multimode fiber (also an add-on..I think it was $25 as well).
Unfortunately, I am using a 5.5 inch I.D. tube for my main ROV hull. This unit is too big, and they couldn't give me spec on the circuit board inside, but I think it's just a touch too large.
They also have 2CH and 1CH video that are smaller units and can also be converted as above. I think those units would go for under $200. However, if I am going to "pony up" (that means "pay" for some of our international members) for a fiber optic multiplexer unit, and deal with a whole new tether, etc., then I certainly want it to have the flexibility for growth.
After finally finding a solution for fIber, I've weighed the pro's and con's and since I already have my cat5e wire bought and the tether in the works, I may just stick with that for now and take a serious look/attempt at what I can do with IP cameras...I think they only use four wires actually, and I've got four spare in my tether! (or another converter of sorts perhaps).
You're right though Ross, it seems there are a lot more options for ethernet to fiber converters. More research to do. For right now I'll have to stick to 2 constant video channels with video baluns and switch different feeds inside the ROV via relays or get the IP cameras to work in my current cat5e tether. Time to focus in on the rest of my design and leave the upgrades for later I guess. I'll be monitoring this one if anyone has any Q's or if a better solution pops up in the near future!