I've not had my laser pointed confiscated, but I didn't travel with it recently.

I did have a pen-sized mini LED flashlight in my bag that evidently was very, very fascinating. They scanned my bag back & forth a couple of times and finally asked me about it. They accepted my explanation without verification. It could have just as easily been a laser pointer I guess it was a good distraction because I left a bottle of water in the bag that they didn't notice at all (not that they are consistent on noticing liquids anyway).