Homeric character, nothing great (5)

I believe the answer is:

omega

I'm a little stuck... Click here to teach me more about this clue!

'homeric character' is the definition.
'omega' can be an answer for 'character' (letter of the Greek alphabet). I'm unsure of the 'homeric' bit.

'nothing great' is the wordplay.
'nothing' becomes 'O' (looks like zero - 0).
'great' becomes 'mega' (old-fashioned UK slang for 'very good').
'o'+'mega'='OMEGA'

Can you help me to learn more?

(Other definitions for omega that I've seen before include "Last letter of the Greek alphabet" , ""The Alpha and the ___"" , "in Greece, the limit!" , "Final Greek letter" , "character from Athens" .)

I've seen this clue in The Telegraph.

Want a hint initially instead of a full solution? Install my app