I've find a solution, it was pure logical issue. Just before updating value ask if new value (selected manually form changed select option) is bigger than value that should be selected from custom binding and you will be able to change value to one that you want.
if (firstNext >= $(element).val()) {
$(element).val(firstNext);
$(element).change();
}
Here is updated fiddle: http://jsfiddle.net/9gGjq/4/