Make Eyedropper to highlight text when painting formatting
If you are holding Option/Alt with the Eyedropper you can 'paint' formatting onto text. At the moment you can't see exactly where this is applying though until you release the click. In Indesign, it highlights the text you are painting. It should be the same in Illustrator.
This is important for formatting large piece of text, and with the lack of ability to use keyboard shortcuts when text is selected, this feature is even more important.
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Yes, no highlighting happens, making it a guessing game. And since it’s not live anyway, there is no reason to update it only after click is released.
There is also a general request to allow the tool to work in the 'loaded' mode, like InD does (as an option): http://illustrator.uservoice.com/forums/333657/suggestions/32194615