CM pick only requires 1 allen wrench, there is enough friction between the female part of the bolt and the soft aluminum of the head to hold it in place. The advantage of the separate bolt system is that you can swap the whole thing out. My partner did the "tighten my BD tool with the other one" thing on a fairly serious alpine route and stripped the threads, which are on the tool head itself, i.e. impossible to fix in the field. He had to finish the route with a shaky pick which shatters the ice something fierce. On a CM, if you carry a spare bolt assembly (which weighs nothing, I keep one attached to my spare pick in case I drop something), you wouldn't have this problem.
Seriously, I've never seen anyone try to deal with a loose or broken pick without having two hands free, either they a) place a screw and hang b) pull out their third tool or c) gut it out to the end of the pitch and fix it at the belay.
Also, although the pulsar and axar are being phased out, the quasar picks have a second set of holes that fits these tools, so don't despair.
I have tightened/replaced the picks on my Rages using a spare pick as a wrench. I have had no problems with stripping. YMMV.