That's why I mentioned a "key" place. One of my coolers has just this system, the hose is in the return line just before the tank and is in an inverted U. When there is flow it is full of colored coolant, when no flow it is empty. Pretty simple and I never have to take the mouse in to the vet. But the real problem is that when you are welding you won't notice that your flow has stopped until there is coolant all over the floor from the melted power hose. That's why I think the CK fuse block system is the best way to go. No matter the cause of poor cooling, it will blow before you damage anything. I've never had a line failure yet, but I worked at a shop where someone blew out 3 sets in short order. The first was due to the hose getting under the wheel of a welding cart, then two more as he didn't properly replace the damaged hose.
http://www.ckworldwide.com/fuse_block.htm