Steventon and indeed many other sites as covered by the GWEP project are still being discussed as councils put up their various objections and discussions are held with a huge number of stakeholders.
Network Rail have a strong company goal to close as many level crossings as possible as they represent one of the biggest hazards on the railway now.
So, and I stress that this is purely an educated guess and not anything based on any actual knowledge of plans, I would not be very surprised if the LC closure fund put up some money towards the track lowering option. This would get rid of two LCs and also solve the Steventon issue together.
I do know that Stocks Lane and Causeway LCs are in the higher risk cetegory, which is usually a result of people ignoring red lights or walking across when the barriers are down and near misses having been reported by train drivers. Thus there is more motivation to close these than some crossings.
What the mitigations for the closure will be I do not know. It's not actually that far extra to drive around via the high street anyway and it sounds like pedestrian access will be available via Causeway still so I would assume (big caveat: I don't know the area so I'm basing this on aerial mapping only) that this will be sufficient and not cause too many local difficulties.
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One further thought - track lowering has been done at 4 bridges around the Slough area as part of Crossrail (Leigh road, all four lines, Farnham road, mains only, Wexham road, mains only and St Mary's road, all four lines) already and there's some in the OC area too so the 'billiard table' isn;t really a billiard table any more anyway!