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This is not news.  In fact it's where I got the idea from, since it was
such a neat item.  Mattell made it, I believe, modeled after a "space 
saber" or "light sword" or something likewise theme-y.  My addition was 
using a motor for continuous display, and polar effects in addition to 
character graphics.  I should have protected it when I had the chance.  
No one to kick but myself...