I'm not sure how the commercial machines do it, but the way I programmed mine, the drawbar does not close between "put tool" and "get tool" commands. (your first scenario.)
My drawbar is pneumatic, so I have a pressure switch installed as an extra layer of safety (between the valve and the drawbar) in the event of an issue with the pneumatics. For example, when the drawbar is activated, the SW checks that the pressure has actually gone up before moving the gantry. I also have an indicator light on the panel to show the drawbar status.