The Wallabies host the All Blacks in Sydney on Saturday week and desperately need a victory to revive their title hopes after Saturday's despairing 29-17 loss to the Springboks in Cape Town.
The Boks outplayed the Wallabies in virtually all aspects but were especially dominant at the lineout and breakdown, where Elsom's aggression and sheer presence has been sorely missing.
The inspirational flanker hasn't played since suffering deep knee bruising in his man-of-the-match performance for Leinster in their Heineken Cup final triumph over Leicester six weeks ago.
But Deans believes Elsom should be available to tackle the All Blacks and said he'd have no hesitation rushing the star breakaway straight back into Australia's starting side.
"He's been working hard. He's been going well," Deans said.
"He hasn't played club footy, but that's not that important. We can give him the work that's required.
"It will only be an issue if there's a confidence issue. But I don't think there will be - it's Rocky.
"I think there'll be a confidence issue on the other side if he was to play." Elsom's inclusion in the back row would likely result in Richard Brown switching from blindside flanker to No 8 and Wycliff Palu - who had a quiet game at Newlands - being benched.
Deans is almost certain to start O'Connor at fullback - and thus move Adam Ashley-Cooper to outside centre - against the All Blacks if, as seems almost certain, Wallabies captain Stirling Mortlock is ruled out.
Mortlock was to have scans when he returned to Australia on Monday to confirm he'd torn the meniscus cartilage in his right knee, an injury that would sideline him for several weeks - and possibly the rest of Australia's Tri-Nations campaign.
O'Connor was the Wallabies' shining light on an otherwise dark day in Cape Town, performing like a seasoned test player after slotting in at fullback when Mortlock limped off in the 20th minute.
Peppered by South Africa's kickers, the gifted teenager stepped past four defenders with his very first touch and then confidently defused several high balls to ease some of the pain of his Eden Park nightmare off the bench three weeks ago.
"James O'Connor's performance was great," Deans said.
"His last outing in a similar cauldron - possibly an even lesser cauldron - suggested that he wasn't ready ... well, he's shown he's ready.
"He'll just continue to get better and he's not alone in that. I was pleased with all of the blokes that came into the game." Deans was talking about halfback Will Genia, hooker Tatafu Polota-Nau and prop Ben Alexander, who will all come into starting consideration.
"They all made a difference when they came onto the ground and all that time that they're getting is good for them," said Deans, who believes the Wallabies are still in Tri Nations title contention with three of their last four matches to be played in Australia.
"We can win the next game and that's where we'll turn our focus to now," he said.
"I think we've showed that we're capable of winning against either side that we'll encounter going forward."
