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Velo orange do french BBs, not sure about swiss. I was warned off the theadless option by my LBS but can't remember what the reason was. My main ride is mid-80s Gitane with a french BB that's in great condition despite being over 30 years old. I want to run ISO cranks on it, though so am currently trying to work out if i can replace the spindle. I heard that british spindles have the same middle measurement (from bearing flange to bearing flange i guess) and -might- work.
Sorry - slight thread deviation, but hopefully relevant :-)
Pick a direction and turn! :-)
Re. appropriate tool, would it not just be one of these?
They're a pain if you have to exert more torque than it would take to open a jar of gherkins, mind.