I can't see that even if a cycle helmet was as effective as a motorcycle helmet, that it would make very much difference, because the risk of a head injury is so small to begin with.
It's a bit like someone suggesting you wear a bulletproof vest. Seeing as you are at a vanishingly small risk of being involved in a shooting, it really doesn't make any difference whether you wear one or not, nor how effective it is.
However, I don't think the people who are pro-compulsion are interested in how effective a cycle helmet is - if they were they would drop their pro-compulsion attitude - so who knows on what basis we might end up with compulsion. Experience thus far suggests that any move towards compulsion won't be based on the evidence.