Unfortunately, that style of wiring -- essentially a "switched loop" -- is not compatible with "smart" switches that require a neutral.
The 2011 NEC finally recognized this and now requires neutral at switches, but your home obviously predates that requirement.
There are a few options, but none are easy/cheap:
New wire
Replace the wire between switch and light with a three-conductor (14/3) wire. You get hot, neutral, and switched hot.
New power feed
Run a new power source (which would include neutral) to either switch, and disconnect the existing source in the light.
The existing 3-wire between switches carries hot, neutral, and your signal/traveler, and the 2-wire between switch and light carries neutral and switched hot.
This requires access to one of the light boxes, as well as another power source.
Use an in-line module
Buy and install a Z-Wave "in-line" dimmer or relay in the light box to control the light.
The existing 2-wire between the light and switch would just be hot and neutral, and you'd setup the switch to control the in-line module via z-wave signalling. There is no switched-hot going to the light. The existing 3-wire between switches carries hot, neutral, and your signal/traveler.
Nice thing about this option is it doesn't require changing wiring (and thus no holes/etc). The module will cost ~$60 but that may be the cheapest option compared to the alternatives anyway.
Since the existing install is using black wires as grounded (neutral) conductors, you should start by rewiring the original circuit to be code compliant.
Then you'll wire the new dimmers in like this.
With the dimmers installed, you'll have something like this.
You'll notice that T2, that runs from F to DD is not labeled. This is because I'm not sure which wire it is in your photos.
Best Answer
Yes, you understand how that works. However.
When neutral is not in a cable, and always-hot is in a cable, white must be always-hot. (and it must still have marking tape indicating that it is a hot).
So you may reverse the 3-way configuration to take always-hot to the far switch. But this means you must change (on both switches) which ones are the traveler wires. White must become always-hot, and black/red become the travelers.