I also killed a fuchsia last year (with the same bud dropping symptons as yours) and then repeated that with two others this year. I should give up on them - but they are so beautiful and there is no competition for a hanging flowering plant that will do well with only morning sun/shade. I'm also incredibly stubborn. :)

When you say there are no signs of root rot - have you pulled the plants up to see if the root ball still has healthy white roots evident? If the leaves start looking limp and droopy within the next week (looking like they need water) the plant has probably been OVER - watered. It turns out that fuchsia need to be just moist but not wet (see the "pinching fuchsia" post). I spent a lot of time concerned about my light levels which turned out to be a red herring. Your light sounds ideal.

If you check the roots and determine that you've overwatered your fuchsia - see my "sickly fuchsia" post from a few weeks ago for the instructions I was given to try to save my plant. Thanks fuchsiabonsailady ! What you have to do isn't pretty (hard cutting back) but if the roots are gone you don't have much choice. My two actually aren't totally dead yet. They are still in "intensive care", but the replacement fuchsia I bought for the meantime are doing much better- now that I'm watering them properly.

good luck, Helen