I agree with the land in the grass option - landing in the grass is no big deal. If anyone tells you that you should go around in a light twin - tell them no, and they are stupid:

Regardless of what kind of day it is, go with the safest option. A single engine senario is an emergency (especially in a light twin). You have no way of knowing what caused the engine failure - it could mean imminent failure of the other engine. You also would need to go through the motions of trying to see which engine it is at such a critical moment of flight; people have feathered the wrong engine trying to go around.

Your throttles are already pulled back mostly, you aren't in danger of a Vmc issue on short final (if you're on speed,etc). Taxi-way/grass whatever just get it down.

This is especially true if you're going for you Commercial checkride and you don't have a lot of experience in multi-engine aircraft. Just go with the safest option.