I have just the opposite problem (see my post) - but here's an idea. Buy the "extended mobility kit" - this is for people who want to get the pegs closer. Then you can turn the mounts around. This will lower and push the pegs away by about an inch. I would start to worry about ground clearance though. I scrape my heels every now and then and only wear a size 9... Anyway, I'm pretty sure this can be done because the wrench at the local dealer told me it could. Why they don't advertise the kit both ways, I don't know.
The problem with the kit the Motor Company sells is it is drilled through for the bolt/pin when you flip it around 180 degrees it sets the position too low as you indicated. I have looked at buying the kit and re-drilling the hole as to poistion the pegs away and up. Next problem for me is then I think the brake pedal will be in the way of my big foot.
O well if anyone comes up with something else I sure would like to hear from you.