Just in case it is of use for anyone else that comes across this post, I came up with an alternative approach that is satisfactory for me that I have not seen proposed on the forums. Instead of using the graph palette, I created a custom shortcut menu for my XY graphs, from which the user selects the desired palette tool. This allows me to capture all active palette tool changes, not sacrifice any functionality, and not take up any space in my user interface with graph palette buttons.
Thanks again, everyone.
