Although this may not be the "ideal" process, this was how I attacked this question (this passage was indeed very difficult for me as well):
1. Since the question was asking for what idea the particular phrase "far-reaching implications" was referring to, I went back to those lines that specifically mentioned that and noticed that the "far-reaching implications" were something that the CLS proponents argued for. I also noticed that these were implications about the idea that conflicting values can exist.
2. I started to think what these far-reaching implications were made by these CLS proponents in regards to the idea of having conflicting values. I recalled that the first and second paragraph mentioned about what these CLS proponents believed about the conflicting values and scanned those parts in particular, and found that lines 11~15 was where the goodies were! It specifically states that the consequence (i.e. implications) of having these conflicting values is that the choice between these conflicting answers must necessarily be arbitrary or irrational. Thus, (A) is our answer since it literally illustrates what these "far-reaching implications" made my the CLS proponents were.
We also have evidence from the beginning of the 3rd paragraph in that Meyerson specifically states that "it does not follow that the choice between them must be irrational" and she further elaborates on this for the rest of the paragraph, and concludes from this that this notion does not have far-reaching implications as CLS proponents have noted. With all this evidence, we can clearly prove (A) to be true!
Hope this helped a bit!