I've been working on a mirror bone translation tool and used Fazeks mirrored points/magnet tool as my "inspiration"... Translation: I stole a bunch of his code.

(this mirror bones tool script is almost done. I should be posting it soon in my scripts thread).
I was using the big circle thingie from Fazek's magnet script in my mirror bones tool just so I could see the spot on the "other side" it was hitting for testing purposes. Very handy but unnecessary for the tool itself.
I have learned a ton of stuff about that whole "drawing" on the screen thing with tool scripts. It's great but also limited. Sad to say I can't draw to the screen with a layer script like I had hoped... dagnabbit that is frustrating.
For the magnet tool radius I think a type of "preview" could be done but the problem is that if you don't actually click the mouse on the screen there is no location for the preview to show up. There is no way to track the mouse without clicking on the screen. The scripting only allows for click tracking (mousedown) it doesn't track "hovering".
Another option would be to show the preview at the "center" of the selected points (if any).
Not a perfect solution but at least it won't lead to moving the whole darn mesh in one go by mistake (Yes! I do know EXACTLY what you mean!

). I set the radius really really really small before even using the tool and I still have to "undo" at least once because I can't see it.
My thought would be to add a feint transparent circle outline of the brush (instead of filled) at the center of the view before clicking. Then when you click it would fill in... or actually I could just leave the brush area an outline only so it wouldn't hide the mesh area so much.
I will see how to incorporate this on my own since Fazek hasn't posted in a very long time. Fazek if you read this and want to do it your own let me know. I will only add just a teeny tiny bit of code so my version will barely be a big change. I would just add change the version number and maybe add my name as a modification. I don't really care that much about the credit. I've learned so much just from looking at that script.
-vern