A new use for Visegrip's...but what?

[mikeswrenches]

I picked this up at a local flea because I'd never seen anything like it.  What the pictures don't show is that the dial has a level mounted on it(the black object).  The dial can be rotated to any position.  There is a line scribed on the inner surface of the round body that lets you read the degrees from the dial.

It looks to me like it was designed to be clamped to a pipe or other round object for some unknown purpose.  The only mark, other than the Visegrip logo, is 7S1125 printed on the face of the dial.

A Google search shows this is a Caterpillar of Australia number, if I read things right.

Anybody have any ideas?

Mike

[Yadda]

Holy moly!

[john k]

Some factorys set up tool?   I'd of bought it too.