Concern about bypassing capacitors on other side of the board (Current Flow)
I don't see any real problems with your first option.
Is it ideal? No. Will it work fine for the part in question? Yes.

That the vias are connected to the planes aren't a problem, you are still providing a local source of power very close to the pins, that's the primary requirement.

If something like that was a problem then it would be virtually impossible to bypass a BGA package.

As already mentioned the via in pad can cause problems. Some PCB manufacturers won't like it and if you use a reflow process to assemble the board there is the problem of solder wicking through the via leaving a dry joint.