Ahhh... I see the error of my ways earlier. Here's a new version.
(defun annotate-todo ()
"put fringe marker on TODO: lines in the curent buffer"
(interactive)
(save-excursion
(goto-char (point-min))
(while (re-search-forward "TODO:" nil t)
(let ((overlay (make-overlay (- (point) 5) (point))))
(overlay-put overlay 'before-string (propertize (format "A")
'display '(left-fringe right-triangle)))))))
The first solution used a the 'display
text property, which changes how the specified text is displayed, in this case it was replaced by the triangle in the left fringe. What I needed to do was to use a 'before-string
overlay instead. Which doesn't change the string being displayed.
Another advantage, the cut/paste of the code annotated by this does not carry the markup.
I've updated the code in the original question to reflect this change as well.