What are basic instructions to derive viewkey for an address? Want to be able to keep an eye on cold storage.
If it's your own address, you can type "viewkey" in simplewallet.
If it's cold storage, he won't be able to do that.
I have the tools to do this in an easy way, but you'd want to pull the webpage and use it offline on a one-time install of some sort for maximum security (if using for "real" cold storage).
After you've gotten the viewkey, you should be able to import it into simplewallet to watch with --generate-from-view-key argument.
(PM me if you want to use the site; I don't want it too public yet)