Are people sure it was an auto-click tool for swapping gear that got peopels paragon levels reset and not a different exploit? My most common diablo-ing buddy mains DH and used to use it to run Whimsyshire runs for weeks and never got a notice of "stop that!" or anything.
Pretty sure you're allowed to do this; as long as you have to press the button yourself and its not happening automatically.
@OP I'm sure its easier enough to reconfigure; but consider also Warzechian Armbands for conduit pylons (swap to nemesis > warzech > back to normal) and personally I@d love one to swap my shield over at a blink; but either ways; thank you