i'm going to get an water cooling system that probably will have pelts on it so i'm obiviously new to this whole watercooling systems.
anyway i have a couple ideas.
for the leaking detector, depending on how big it is, if its small one you could place one below each barb joint. example.
look at the cpu block, say its an maze4 with both of the barb sticking out top of it, now you could place a little funnel below both barb then have the leak sensor in the neck of the funnel. so when one or the other start to leak it would trigger off the leak detector and bam, system goes down, and you could optionaly have an additional setup.
allright, you got say one pannel from a 3.5 exterial drive, just drill a few holes and put in a few lights, say one for pump, one for radator, one for cpu, one for video card, and then one for the resvor. now you have a small say 9 volt battery behide the pannel then you hook the lights up into ur auto kill system so what happens is.
when one of the leak sensor sense water, it kills the system and trip maybe a breaker, or somthing i ditto, but it trips and one of the light on the little pannel comes on and it will stay on because you have a little 9 volt battery to keep it on so the user will know why the system triped and where the leak was.
just an idea

might be too complex but i don't think it is overly complex heck i might try it myself

my dad and i am not pro electricans but were decent with electrical items so i might try to make that little mod myself

would be a good first warning.
by that i mean, if you system just turns off you know something bad happened but you don't know WHAT happened, so.... with that little light pannel you would atleast have a idea as of what happened.
now you could probably wire up few more lights for other possiable failure, such as flow, if the flow gets too low, bam one of the light comes on, then another one is you can mount an mirco switch on your block, if it lifts off bam another light comes on and system is shutdown, aka an relay that is just blowen the second the block lifts off the dice. then another one could be for the resvor, you could have a little resvor level sensor when it goes below a certain level bam another light comes on and it could optionaly kill the system but then again you already have leak detector all over the system at the leak point.
now i don't know how much it would cost but i would guess some cheap LED lights, a few of em, and some wiring, probably a rechargable battery, and probably a few relay/switch whatever however u plan on tripping the system, then some sensor the total cost should be i hope maybe $50 or less, depending on what you want to do with it i guess.
its just an idea, and admitly i like the idea myself, i'm newbie to watercooling and this idea might help me push my watercooling system to.