Well, I used to have my Litermeter III mounted in my stand, above my sump. I used large velcro to attach it to the side wall. Everything was great until my skimmer one day decided to freak out. When I opened my stand I found skimmer foam everywhere in the stand (the foam was on the top, sides, etc). It wasn't too hard to clean up, but it did some water damage to my Litermeter. Now, my Litermeter is real flakey (not using it at the moment).
So, just sharing my experience so you can avoid the problem I ran into.
HTH,
Rob