Keen to hear from anyone who has done this too.  I have seen some MONSTEROUS kingi's in this type of situation, and they have harassed kahawai and Trevally caught, we trolled said kahawai as livebaits but got no interest from them what so ever....

The kingi's seemed to be hanging around in the middle of the schools, not on the outsides.

I did this a couple of times with friend last year around the kahawai/trev schools, I found that the stickbait got more action away from school (50ish meters) then right near it, almost like a lost straggler fish which was injured and easy pickings. I found the kingies would spend a lot of time watching and then a switch would go and would all be in attack mode. So it could be a lot of casts waiting for them to hit one. Most of the time casting into the schools ended in jagged fish (nice to get some trevs for the plate.)Thats just my experience and by no means the gosbel but worth a try.

Are birds hitting the birds stickbaits, or are these Ky/Trev frenzies without the birds?

no birds, just washing machine like work ups of trevs and kahawai munching krill.

and as Jono found, casting into the schools equals lots of foul hooked fish.

might try working a big lure away from the school and see how it goes.

Thanks for the replies! Turns out theres an article on exactly this by Tony Orton in the latest fishing mag. He says to cast over the school and work the lure back through them, not exactly what I was expecting... I guess the key when you do that is to use single hooks so you dont snag as many trevs.

I think also to be aware of here is they may be pushed up to the surface for a range of reasons and that wether they are feeding or under pressure to be there or even just mooching in volume around structure has to be taken into account.
These observations may also help you determine the positioning of your bait/tool as described above.