"Never heard of using a Hand Engraver to take a screw out.
I often use a left hand drill or a screw extractor like these Precision Screw Extractor Set to remove smaller screws used in computers. I also find using a soldering iron to heat the screw up can also help to soften thread lock.
The last option is cutting the screw giving it a slot using a Dremel tool and a thin cutting wheel. Is that what you mean by an engraver?"