It displays a cube with three differently colored arrows, pointing in the X, Y and Z direction of the node.

Picture is here, http://twitpic.com/1s65fg/full in case the image url changes. In the upper left is a second rendering (RTT) that shows the rotation of the main camera, which is what I needed it for.
Code is here: http://pastebin.com/GuW0ZP7p
For the sake of simplicity, it's under a Creative Commons Attribution Unported license. Basically: Use it whatever you need it for.
The class includes a helper function that rotates the node so that it's Z axis matches a given direction, either given directly or taken from a camera.
Maybe it is of some use to somebody.