  We show that the nonlinear stage of modulational instability induced by
parametric driving in the {\em defocusing} nonlinear Schr\"odinger equation can
be accurately described by combining mode truncation and averaging methods,
valid in the strong driving regime. The resulting integrable oscillator reveals
a complex hidden heteroclinic structure of the instability. A remarkable
consequence, validated by the numerical integration of the original model, is
the existence of breather solutions separating different Fermi-Pasta-Ulam
recurrent regimes. Our theory also shows that optimal parametric amplification
unexpectedly occurs outside the bandwidth of the resonance (or Arnold tongues)
arising from the linearised Floquet analysis.
