Here, for anyone to use. Was bored and came up with this for a psionic power:

Prescient Awareness
Clairsentience
Level: Psion/Wilder 2, Psychic Warrior 2
Display: Vi, Me
Manifestation Time: 1 immediate action
Range: Personal
Target: You
Duration: Instantaneous
Saving Throw: None
Power Resistance: No
Power Points: 3
Your subconscious mind resonates with clairsentient awareness of incoming danger and instantly aids you in reacting to that danger as if you knew it was coming. At the start of combat, you can manifest this power and immediately act in the current round as if you rolled a 20 for initiative. You can manifest this power even during a surprise round (thus, preventing you from being surprised) and may take your turn as normal in the initiative order.

Augment: By spending an additional 6 power points, you can extend the benefits of this power to all allies within 20 ft. of you.

i don't think this works the way you think it works... as written, the only use you can get out of it is to use it during a surprise round (iirc, you cannot take immediate actions while flat-footed)

Is there a precedence for a Free Action power?

I get what you're going for... I just wonder about implementation.

I don't see much of a problem with this. I think it may need an additional augment though. Just one to extend the range when you're trying to get your allies (not everyone travels in 'fireball formation').