I was told that a Mirena would be the normal route for my heavy bleeding but due to a number of factors I was steered in the direction of taking progesterone orally. The GYN said that it's like taking the Mirena orally. Doing it this way it avoids the need for an insertion and subsequent removal if it didn't help. I have been taking this pill for the last four days and my heavy bleeding has stopped.
Having the IUD would mean that you wouldn't need to think about taking the pills each day. If it works as well as the oral progesterone then go for it. It's so nice not to be at the mercy of the bleeding.