The de-grief stick is more commonly known as a mod-stick. The renowned mod-stick is only available to administrators, moderators and god donors whom respect the responsible privilege of using the stick if completely necessary. The de-grief stick currently only deletes blocks.
There is the possibility that a new mod-stick that reverses griefed blocks by reversing the block to its previous states will be made. There will also probably be a redo option if the griefed block does not appear or the user reverses the grief too far. e.g. there is a complicated red-stone circut that has been griefed what do you do? 1) contact Shintyx or 2) reverse the grief to redstone.
I personaly would contact Shintyx if he was on but if not the process would be option 2 and reverse the grief to redstone and if it reverses to any other block which does not fit the circut then it will be redone to its previous state.