I too, hat those dumbbell eyes, so here's what I do.
1. Eliminate the dumbbells, and voila! It's a blonde. If you want it to sink, wrap some lead wire on the body, or my favorite, tie the head kind of big, and epoxy it good. Gives the fly a nice up-and-down motion as you retrieve it.
2. Replace the bucktail tail with feathers, and voila again! It's a deceiver. Repeat the procedure for weighting the fly above, and you can make 'em sink real nice.
Jay