I think faux wooden blinds are fine - that is what we are planning to do as well. I think they're pretty much resistant to those conditions. The ones we have throughout our house (Durawood blinds from Smith and Noble) specifically say that they:

"combine the attractive look of Wood Blinds with the added benefits of resistance to moisture, fading, warping and cracking. Their rugged polymer construction makes them perfect for kitchens, laundry rooms, baths, or anywhere you want the beauty of wood without the worries"

So, I say go for it!

Thanks lakekristinia, really appreciate it!