I've been using this for a few years on the CBF, it fitted nicely into a gap in the swing arm.
I can confirm it works on the runner, through the rear axle. It needs to be inserted from the nearside, to avoid the cap fouling on the exhaust.
http://www.torc-anchors.com/anti-pinch-pin.phpYou need the Squire SS65CS padlock to work with it, and a suitable chain of course

I can't vouch for anything other than I've been using it for a few years, with the Squire and 16mm protector chain, and have not had a bike nicked

No evidence that anyone has tried and failed or looked and decided it was too secure to try.
To me it seems more secure than a chain through the wheel, wheels are easy to remove, and I can't see anywhere else on the runner to thread a chain through.