I did a bit of reading, it still looks like you need the Phone/Tablet. This describes it well: http://circles-of-blue.winchcombe.org/index.php/2015/01/11/wearenotwaiting-thanks-to-dexdrip-introduction/
The phones app picks up the reading and relays it to nightscount which puts it on the web, then from there it can go to a watch, website another phone etc. I dont think the smartwatches themselves cannot connect to the DexDrip's bluetooth module. That would be cool, but I don't think that is how it works yet. So for people who do not own a android let a lone a smart watch, they're looking at another couple hundred to get the reading on their wrist. I'm talking less than $50 to get it going, and you wouldn't have to carry around the DexDrip "module" because its in this small device. It needs to be simple, inexpensive, as a "just make things convenient" sort of way. Basically like a heart rate monitor watch.
All of my boards are surface mount, and at least 2 layer. I don't do through hole, mostly 0402 components, so it will be a small form factor. I don't know if touchscreen would be a good idea, very expensive/complex with very little benefit, not easy to do, especially with a micro-controller. It needs to be basic, Use the CC2511 as the microcontroller, and a OLED screen, no daughter board needed. This is the screen I'm thinking but without their large breakout board:
Not much user input is needed, something to change the device ID so it can connect to the transmitter, and maybe something to wake up the watch to get the reading. There are small scroll wheels with a click input that could work well. DexDrips software can then be used directly with very little modification.
I like your forward thinking, but at this point its not going to be a manufactured project.I would love it to be, but financially not feasible right now. I'm thinking just an open source circuit board with a case design that could be ordered on shapeways or 3D printed at home. I can sell the individual boards on www.tindie.com, through my site, or on a personal level like TuD, for those who want them. I can get the boards made in small batch from OSHpark.com for less than $5 a board in sets of 3. As you probably know, getting a batch done in China, while cheap per board still required a large initial cost usually a couple grand. Funding for me is the problem right now. Maybe in the future if there is a high demand we could go that route, but for right now its pretty easy to just order small quantities and build them myself with my toaster reflow oven in as demand is required. Also if someone just wants to go the route and make their own, they can do that as well. I've done a few small run orders, I designed these soil moisture meters for a company and did a batch around 150 boards, has a stainless stencil made, it only took a day or two for assembly. With my PIDDYBOT balancing robot I used a company called OSHstencils.com and they make really precise stencils out of Polyimide for a few bucks and can last for a few hundred boards. Its really amazing what is available to makers now.
I will probably finish up the initial design later today, post up some dimensions, pictures, etc.