I dislocated my left shoulder in '95 in college football. It came out the front and I forget the technical terms, but they said it was bad. It HURT ha...but I rehabbed and played two more years of football in college, doing only close grip bench.
In grad school I dislocated it out the back side in jujitsu, and the thing was out for 3 hours hurting while I waited in the ER with my brazilian buddy holding my arm up and some nurse feeling bad so shooting me up with Demoral or something...they said I needed surgery, but due to my jobs at the time (cop and strength coach), there was no way I wanted to be out 6-9 months. I rehabbed and came back from it.
About 4 years ago it was hurting bad and I did some cortizone shots, because the doctor did MRIs, X rays, and I forget what else. He said I had detached ligaments, broken capsule front and rear (some technical names for it though), hooked clavicle, and spurs in my AC joint.
Somehow I manage to still do heavy cleans and squats. I do not bench heavy, only close grip up to 315x3 in past few years. WHen I squat I have to hold with my hands outside the collars on the plates or it feels like its coming out and hurts, on snatches and overhead stuff I go light to moderate. I do not do pullovers, or anything behind the neck. Overhead presses actually make it feel better, and I do lots of chins, pull ups, rowing movements. I also used to do alot of rubber band work internal/external rehab type moves.
I think its probably a miracle I still can do alot that I can, but according to the sports doc just a matter of time before it needs to go under the knife. But I think if you take the time off you need, rehab without putting yourself in the pain zone, and consult with some good sports medicine people in your area, you will be able to figure out what you can and cant do.
There are some really intelligent people on here that know injury type issues, so hopefully they will post. Im just a knuckledragger with some personal experience and wanted to let you know the show aint over, you hopefully will get back to training hard, just smarter!