I am wondering why I haven't seen a training device like this? It isn't that hard to make actually. A few lengths of copper tubing, a piece of plywood for the base, a pivot and a swivel of sorts and a counter weight.
This seems to be the perfect device to allow one to learn to hover, rotate, fly in a circle, without the fear of crashing.
I guess the hardest part of making this would be to balance the bars perfectly so the helicopter could actually fly on it.