if i understand you properly your solution would be to type
"EnterEditMode;" in the command line.
this will allow you to move the pivot point freely as you wish...It is case sensitive, so type it just as i did. less the quotes anyway.
also you can high lite the text and mmb drag it to the Shelf and create a button to do this as you wish...
you will need to have the move tool activated to be able to use this command.

hope this helps
G-man