My dear friend,
It looks very neat indeed and is fun to
play with.

But alas, it is very impractical to
work with, at least in its present state.

The major problem is that the wireframe/bullet overlay seems to be drawn only once and is then simply zoomed into/out of together with the texture image. This makes it impossible to either clearly see the wireframe or zero in on a bullet and drag it — at any zoom level other than the maximum/deepest one.
This isn't how it should be. A wireframe line should remain exactly one non-AA pixel thick, and a bullet, 3x3 non-AA pixels large,
regardless of zoom level. This means the overlay should not be zoomed but rather redrawn each time the zoom depth is changed with the aid of the slider, or the zoom rectangle, dragged in the zoom widget.
The portion of the wireframe image to be drawn in the overlay should be enlarged according to the current zoom depth and clipped to within the zoom rectangle as seen in the zoom widget. This will dramatically reduce the number of wireframe tris and bullets to be drawn at any zoom level other than the full view, and drawing may arguably become significantly faster.
This tactics will enable the user to see, and work with, the UV mesh confidently at any zoom level rather than at the current deepest level only. The user then won't have to lose time adjusting the zoom just to make the wireframe visible, or dive to the deepest zoom to be able to drag one or two bullets around.
Do you think you can re-implement what I'm trying to describe?