As for the fence tool, i've never seen it used. It's one of those obsolete tools left over from CnC, so i'm not sure if you'd be able to get it to work for BFME. You might have to look at CnC Worldbuilder/code and see. Again though, it's a lot of effort to try and make fences work, when you could just make a custom object (or set of objects).
Something that might be worth looking at is the road tool though, there's a Bridges subset containing a walkable click-and-drag type bridge object (TEST_EuropeanBridgeWide). I've always wondered whether you could substitute the bridge for other 3d objects (eg. fencing, walls, other bridges etc).
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