You can draw the tool (most common in the upper right hand corner of the orgin) save the file, then when you open your part program file and click create tool you can call up the tool you just drawn and it will use the geometry you specified. There will most likly be some parameters that need to be changed depending on your machine and setup.
For using the same tool for all grooving ops, just simply click on the tool you just called up ......
Not trying to step on toes here, but after looking at your recent posts I would suggest looking into some training cd's, books etc. to make you more efficent with mastercam. If you convice your boss of this he/she would be impressed with higher prodution. Again this is only my two cents, but I know Mike Mattera on here as some good training cd's