In my view it doesn’t belong there, because it’s always there regardless of the selected tool. I would suggest moving these back to the panel with the pivot point settings, or into the transform orientations menu, as it’s closely related to these functions.
Also, didn’t it work in edit mode at some point? Fiddling with addons for that. I know I could use the 3D cursor but somehow using the origin translate/rotate to use with custom for face selections is just more convenient. Might be just me having worked in maya for ages.