From my friend Greg, whose opinions matter to me greatly:
Can the solution to the hermeneutical fixation *solely* on the meaning of the text be legitimately compensated by an assertion that meaning is *not* found in words [as signs]? It seems to me that it would be much more reasonable given the problem to say that meaning is not *only* found in the semiotic function but also in the performative function of words (to say nothing of the author's subjectivity).
Just to be sure I'm accurately representing Fairclough, Jessop, and Sayer's 2001 article "Critical Realism and Semiosis," let me make clear that what they prescribe is exactly what you suggest: that even-handed attention should be given to both the constantive (semiotic) and performative (extra-semiotic) functions of a text. I am going to differ with them, however, in suggesting that focusing on the constative (or denotative) function of a text reveals that we still believe that texts somehow hold meaning when no one is reading them. I'd like to debunk this notion. I don't believe that texts magically contain meaning within their margins. This misconception is similar to the misconception that people have about batteries, that somehow energy is coursing within the battery casing like a hamster on an exercise wheel.

Critical Realism is helpful here, because it asserts that reality is comprised of objects (texts) that possess emergent powers (the power to catalyze semiosis in the mind of the reader) which interact to form processes (semiosis). But what does thinking in terms of semiosis instead of meaning buy us?
It helps debunk the idea that texts are a magical flagon of meaning to be poured out by English professors or theologians. Texts become more like a cultural artifact whose exhaustive study must also involve sociologists, historians, linguists, etc. I envision the text to be like a patient who interfaces with a wide variety of medical professionals (clerks, nurses, physicians, surgeons, x-ray technicians, anesthesiologists, etc). Except, instead of trying to cure the text of a disease (hermeneutics sees a text as a puzzle that needs solving, a patient that needs curing), the text becomes the cure--as a locus for interdisciplinary studies (involving all of the humanities). The text forces us to read humanity itself.