Nice! I built something similar for https://histre.com/ and made it even robust that the highlight will stay on even if the rest of the page changes. For example, if you highlight a sentence in Hacker News comments, the position of the comment changes all the time and histre highlights the correct sentence even with that change.
In addition to that, if possible, your highlighter could show all domains with highlights.
Another useful addition would be sharing a page with someone with your highlights. Even here, on HN, someone could read an article and share a link with highlights added. The highlights themselves could go to the URL #hash part. This could be used together with the Archive.is snapshots.
Edit: A simpler feature would be saving a summary of all highlights in a basic text form that can be easily shared here or anywhere else, really. It's very handy when you're reading a long page, keep highliting interesting parts and at the end get the summary.
I open sourced it here, if that's helpful: https://gitlab.com/histre/browser-extension/-/blob/master/hi...