Without having to start entirely from scratch on a design, do you think that this could be somehow modified to lock-on to a Festool drill without a Centrotec chuck?
http://www.amazon.com/gp/product/B00004R9LD?psc=1&redirect=true&ref_=ox_sc_sfl_title_3&smid=ATVPDKIKX0DER
Product Description:
This quick change bit system features true one-handed load and release and is up to 33% faster than competitive systems. The superior accuracy of the innovative mechanism virtually eliminates looseness and wobble. To load, simply push bit into chuck. To release, pull forward on the collar and remove.
*** WARNING *** Last picture doesn't have the two pieces merged together to scale. I just mashed the Bosch bit holder to the bottom of the Centrotec Chuck to show what it might look like in Photoshop. I left a bit of a gap for the spring because I figured you would still need to be able to move the bottom Centrotec collar to attach it to the drill. I have no idea if the Bosch bit holder's shank would even be long enough for this either. I suspect it might work if you shortened the metal barrel, drilled out the center to 1/4" and welded/brazed the Bosch bit holder to the bottom of the Centrotec Barrel (if that's even possible, I don't know anything about welding/brazing). If this design were to work I suppose you could shorten the green sleeve to cover up the spring without adding any additional height to this chuck design.