Laura, you sound quite a bit like me! I work at home too, and it does allow you to be more flexible in following these style inspirations. I too have a quite well-developed modern classic persona, and I too have been led in directions that seem kind of crazy! I do think that part of it might be the pendulum thing, but I think it needs to be followed anyway, because I feel like that's part of the inner "me" trying to get out and express itself. I've been through maybe four different personas over the past year and am working on my fifth. :^) I hope that eventually the styles will integrate, or I will find a "core" style that has room to incorporate bits and pieces of these other personas.
What I do is follow my inspiration. I don't go crazy buying a bunch of new clothes, but I do try to buy a couple of tops, a couple of bottoms, a pair or two of shoes, etc., in whatever persona is striking me at the moment. Since I am very hard to fit (XXS petite), this takes me quite a while, so I the spending doesn't get too out of hand. :^) I do find that some of the pieces can be incorporated quite well with my existing modern classics wardrobe, so that is a bonus, as it "spices" up my rather conservative palette.
So...my advice is to start following that persona, starting maybe with inexpensive items (if possible), and not buying a whole bunch at once. If you have good luck at thrift stores, that would be a great place to start. Do buy yourself enough to work with and be able to play around with. Over time, you may find that the "draw" of the persona lessens and you move on to something else. If you do decide that the new persona is the "real you," you can always work to incorporate little bits and pieces of it into a more conservative style that is more suited to attending meetings and the like. For instance, if you discover you are really a rocker at heart, you could add leather touches or edgy jewelry to an otherwise "safe" outfit. But you won't know what awaits you until you try! :^)