Heat a medium saucepan coated with cooking spray over medium-high heat; add vegetable oil. Add onion and garlic; sauté 3 minutes. Add tomato; sauté 2 minutes. Stir in wine and next 3 ingredients. Bring to a boil. Reduce heat; simmer, uncovered, 10 minutes. Stir in oregano, basil, and balsamic vinegar. Cook 1 minute. Remove from heat.
Place mixture in a blender; process until smooth, scraping sides. Return mixture to pan. Stir in half-and-half. Cook over medium-low heat 2 minutes or until thoroughly heated.
Pat scallops dry with paper towels. Sprinkle both sides with salt and black pepper.
Combine 1 tablespoon olive oil and saffron; stir with a whisk.
Heat a large nonstick skillet coated with cooking spray over medium-high heat; add 1 1/2 teaspoons saffron oil. Add 1/2 of scallops; cook 3 to 4 minutes on each side or until done. Remove scallops from pan; set aside and keep warm. Repeat procedure with remaining saffron oil and scallops.
Spoon 1/3 cup sauce on individual plates. Arrange scallops over sauce on each plate.