Today I submitted the changes for the Rotate Axis tool and it's now possible to rotate a sketch shape or a 3D object around a selected axis.
The rotation is performed on the points of the selected shape(s), which on the call to ExecuteFunction for the parent node causes it to be redrawn in the correct position. The only exception is the Circle node. Because it only has one point child, we also need to perform the rotation on the circle node. The center transformation is added to the circle transformation, causing the circle wire to be positioned wrongly, so we have to add a third transformation to return the wire to the correct position.
Here is a sample for Rotate Axis on sketch:
and Rotate Axis for an extruded circle: