I admire Jasons confidence in that little pot-magnet base holder.
But after discovering how easily an Eclipse made version of similar size and style could slide around upon a horizontal surface there is no way I’d be confident with an indicator hanging on an upside down one.
Although the surface might appear “flat” it may well be painted and filled seriously reducing magnetic adhesion. Even if a bare metal surface, unless it’s an actual well finished slide-way surface, there is strong chance that the surface isn’t good enough for full adhesion on the whole base area.
Muggins experimented and was surprised by the variation in holding power of the little Eclipse on different, although still respectable looking, surfaces. I don’t recall the grip ever being low enough for me to pull it straight off but I’d need to be very sure that the surface was good enough not to easily slide. My little Eclipse is very useful for a number of things but hanging an indicator off it isn’t one.
But I can afford to be “Inspector Meticulous” as I’ve managed over the years to afford a number of mag bases. Ordinary guy or gal in the shop may not be so lucky due to the almost inevitable need to prioritise limited hobby funding elsewhere.
As ever the rule is check and verify the set-up before following.
Don’t assume that what others have had success with will inevitably work for you.
Generally anything advocated by a reliable source will. But sometimes events and situations conspire against you. One of the advantages of considerable age is having had more time to encounter the, hopefully uncommon, situations when Lawyer Murphy and the Gremlin Squad have you in their sights.
There is a reason why mag base holders with on-off switches are made the way they are with relatively narrow contact surfaces which both concentrates the magnetic forces but also make it possible to slide about a bit to get maximum contact on inadequate surfaces.
Clive bought his small dial Verdict for discount price at the 1975 Model Engineer Exhibition expecting it to be lifetime purchase. Going well so far. Back then it was a stretch to afford on first job money, now I have other indicators and dial gauges but it’s still my favourite. I’d be sad to break it by being careless or rush headed.
Drifting a touch off topic.
As mag bases go this is overkill for most of us and ought to be secure, :-

170 lb (ish) holding force from a base over 2″ square with a 3/4″ diameter pillar.
But Clive still habitually checks and got the shock of his life, approaching two decades ago, the one time it did slide ! Objectively a good wake-up call thing as he’d gotten a bit perfunctory about the verification business “I know it’s OK” in rather too many areas.
Clive