[Logician]

To get the location in the "raw format" is quite easy: Just query the session table and return result from location field. But what returns to you is a line like this:
"/yourforum/showthread.php?s=&threadid=1513"

If you want this line formatted like: "User is Reading Thread xxxx", Tubedogg is right, because you need to write the code to make convertions for all possibilities the user can be doing at that moment. Testing and debugging will be more arduous.

Considering the fact that vbulletin 3 has this feature, we'd better wait..