The problem is that we always look at this issue from the bad side: "You could blind someone with it"
True, but we could also blind someone with our projectors, should they be forbidden only because of that reason?
The reason why navyadmire wants a pointer is for me a legit reason, otherwise how would you point a star to someone else, your finger won't do the job (i've tried once and that doesn't work out)

But, i'm not aware of the rules where navyadmire would use his pointer.
I see he stays in NY, so i could imagine that there will be a problem with planes passing by an the rules!
If he wants to use a pointer and it's allowed i suggest a 5mw green pointer which will do the job by night, when the stars will be visible and you will see the laserbeam (green will be the most visible color).
But like others warn about, keep it in a safe place, don't let kids play with it or even give them a chance to get the laserpointer only because of there safety, it's you fully responsibility!