Problem I see with it is getting a camera that will read something as small as the tip of the tool, without reading the chips or the rest of the tool. If it reads anything else, it may be too late to save the tool by the time it reacts to the temperature.
We used an infrared camera to do something like this but it was using a much larger area. Even that had it's drawbacks.
You would also have to know the emusivity (sp?) of the item your trying to read, although if your just looking for a temp change, you could do without it.
David from jax
A serious accident is one that money can't fix.