Updating an option value with drush cvapi
In Civi 4.6+, you can use pseudoconstants instead of IDs in many places - including for option_group_id.  Civi 4.7 expands the number of places you can use it.

So you can get this down to 2 lines by replacing the first two with:

OPTION_VALUE_ID=`drush cvapi OptionValue.getvalue return=id option_group_id=from_email_address`.


Here's the trick: If the API Explorer allows you to select the value from a select list, that means that pseudoconstant substitution is available on that field.

Unfortunately, I don't think you're going to get this down to one API call.  create requires an ID; you're just not going to get the ID without a get call.

EDIT: It MAY be possible to get this down to one line!  See "options.match" and "options.match-mandatory" on this page.