I am a master Synthweaver and I have recently begun to finally make money, by reverse engineering. Essentially, when I discover blue recipes of a green item, I am crafting that item to discover all the purples of that item. Now and again I get a crit (with an augment slot) of the blue item. I sell these "critical" crafted items on the GTN and I have had great success, even at the level 12-21 gear.
I have never sold a single green item on the GTN, and I seldom sell regular blues. However, I have had great luck selling "advanced/critical" blues with an augment slot.
With how much time I spend farming low level materials, and the cost of the few missions I have to send crew members on, I tend to come out at least slightly positive credit wise doing this. On the other hand, if I had to purchase all my materials for synthweaving and did not take the time to farm them this would probably be a different story.