Some of the advice that I've seen given on other posts and boards is to take the caliper off the swingarm, wedge something between the pads, turn it upside down and then try bleeding it again.
It seems that air gets trapped in the caliper and no amount of "normal" bleeding will get it to budge and the only way to get this fixed it to force-bleed like described above, or turn the caliper so that the bleeding nipple is at the highest point. Mounted on the swingarm it's at the lowest point and therefore it's natural that the air sits in pockets at the top.