There is a new Maclipse build that incorporates the disappearing cursor patch from the SWT guys (https://bugs.eclipse.org/bugs/show_bug.cgi?id=241671) that will be in 3.4.1.
The catch, though, is that it requires a patch to the jnilibs, which might break when you launch eclipse because the jnilibs are already "cached" in your bundles folder. If your Eclipse crashes right on startup, toss your "eclipse/configuration/org.eclipse.osgi/bundles" folder, which will cause it to unpack the jnilibs from the jar again at startup. I may be able to set a custom version number in our SWT build to force this to happen, but at the moment, I didn't want to mess with it.