Ive never heard or seen that but it would hardly be difficult to buy an extra flat tappet solid lifter to use as the designs are all close enough to work.
many guys in days past used a 1/4" fender washer they set temporarily into the top of hydraulic lifters on top of the retaining snap ring to center the push-rod and a dial indicator on the tip of a push-rod to degree in cams.
but Ive had one of these tools in my cam degree kit for years and it works rather well
http://www.summitracing.com/parts/PRO-6 ... toview=sku
if you plan on graphing the lift vs cam lobe rotation per degree of rotation, you can safely ignore, totally the lifter seat being held up on a running engine, when your using a lifter and push rod too move, and verify a dial indicator reading, (keep in mind the cam rotates at 1/2 the crank rotation speed.)
when checking the cam lobe lift and duration.as the cam rotates it compresses the lifter seat as the lobe acceleration ramp, or start of the lifter movement upwards in its lifter bore occurs.
this is how the oil is forced up the push rod to cool the rocker and valve springs and at low rotational rpm's the push-rod lifter seat bottoms out in the lifter well before max lift on the push-rod even gets close,
thus theres a minor delay in the lifter movement as the engine oil is forced up the push rod as the cam lobe rotates under the lifter base but this has very little effect on duration and almost zero on total lift.
use of a camshaft install handle generally reduces the chances of damaged cam bearings
these threads and the sub linked info should help
viewtopic.php?f=52&t=90
viewtopic.php?f=52&t=181
viewtopic.php?f=52&t=974&p=1699&hilit=+degree+wheel#p1699