VE-1247: Simplified logic for floating context menu using FocusedNode boundingRect

https://wikia-inc.atlassian.net/browse/VE-1247
Easily test on: http://muppet.christian.wikia-dev.com/wiki/The_Muppet_Show?veaction=edit
I'm not sure if there is a value in shortening "boundaries" to "bounds" in variable name. As  nane "boundingRect" already exists would it make sense to call it focuseNodeBoundingRect?