As shown by the gifs on the extension page, the primary targeted for Face Cutter use was cutting through walls with multiple faces, not dealing with solids.
There are extensions that create that geometry for the shaft such as Fredo’s Stencil tool and Tig’s Hole Punch tool. Tig’s hole punch tool even allows you to move or delete the ‘hole’, although it does a lot more work than the face cutter (keeping track of all the loose geometry).
- Fredo’s Stencil tool does a nice job of cutting shafts (no 3D shapes), but it is more difficult to move or delete ‘holes’. This tool also leaves the original component solid.
- Tig’s Hole Punch tool makes a shaft that is easy to move or delete, but its shaft is continuous. Like Face Cutter it also doesn’t deal with none planar faces.
- Face cutter only makes ‘holes’. No extra (visible) geometry added for shaft. Any geometry for shaft needs to be in the main component, as in my first hole cutting gif above.
I believe I deviated from your original intent. You proposed a component with geometry (bolt) and a solid group containing the object for ‘negative space’ (bolt hole). As @denisroy mentioned this would be complex, and (I believe) not easily done even with an extension.
That said, it would be a fabulous and very powerful feature if it was implemented.
Edit: Oops I forgot the gif showing the tools I mentioned.
