Martin
No great difficulty in blending the Crescent style adjustable spanner mechanism with the Mole locking capability.
Essentially the adjuster helix is mounted at right angles to the parallel jaw motion version of the Mole / Vise-Grip et al mechanism. The locking action just shifts the helix along a little so the nut / bolt head / square or whatever is gripped between the jaws. The effect is no different to torquing the adjuster up really really tight. Which is impractical in the real world.
From a constructional viewpoint the main issue is providing sliding surfaces for the moving jaw that restrain it from tilt in both widening and narrowing the spacing directions. Crescent style wrenches generally only provide positive restraint against widening splay. Mostly pretty badly at that. Theoretically the jaws should naturally sit slightly pigeon toed as the wrench is adjusted and move out to dead parallel when its used correctly by nipping the adjuster up as it sits on the nut. If you don't nip the adjuster the jaws are inherently splayed and just get worse under leverage.
The locking plier hybrid just does the nip for you pulling the jaws parallel and stopping the thing falling off the nut or whatever.
For me the most likely use is when needing to hold a semi-accessible nut or bolt head by jamming a spanner against a suitable hard point before going round to the, out of reach, other side to actually operate on things.
Clive