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This sort of shenanigans is why grad school is going to get put off for another year. And when I say, "put off," I really mean, "put back on my original time-table." So, the plan is to brush up on some math courses (mostly paid for on the company's dime) and, if things look good, I should be in. Should be. It's a gamble--I was never, ever promised a spot in the program of my choice. But as far as gambles go, I think I've got a better-than-even shot.
The upside is, of course, I've got another year free to write!