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I Just saw a cool idea at Magic's (Bob's) tank yesterday...
He used a Mag- cleaner and attached a small piece of eggcrate to the inside portion of the mag- cleaner... This way you can position the frag holder in the tank anywhere you want with out getting your hands wet!!!!
Hope you get the idea!?!
Maybe magic sees this thread and can post an image to help you out.....?
Not sure if this helps but I made one out of a suregrip magnet I had lying around. I just cut the eggcrate and used glue gel and silicone both of which Walmart carries. The Mag Float might be cheaper.