Hey Guys,
Here's another DIY BB pin removal tool. The cost of the pliers was $10 on sale at Home Depot a couple of months ago, during the time I first joined the forum (I was busy for a week making tools due to budgetary restraints). This tool works excellently with a minimum of effort. I used my Dremel with the standard thick cut-off wheel; in hind-sight I could have made a narrower slot with the thin cut-off wheel. I finished the slot I made with some small needle files, here goes the photos:

Heres the bottom view of the cut-out in the lower jaw of the pliers

Another view of the slot in the lower jaw:

And finally a full view of the pliers w/the model number:

The pliers are made by Vise Grip and the model number is "GV8". These are the 8 inch models as opposed to the "GV11" which are 11 inches long. BTW, I scribed lines on the tool prior to cutting it. Also, slightly off-setting the slot from the center of the lower jaw surface will help facilitate pin removal when limited space is a problem as in working with small spools.
Hope this helps some of you guys,
Leo