There are a couple of ways to get the true Moto circles widget. The main limitation is that it will only run on the new Moto launcher. Both methods require root.
1) Install the Razr M launcher, Circles widget, weather widget, and other optional apps from the Razr M. Link here. (Instructions are for the Razr, but I have tested them on my Bionic and they work fine. Some apps are named slightly different but it's easy to figure out.)
2) Install the custom ROM Icarus HD. Link here. Requires Safestrap. I have not personally tried this one but lots of Bionic users on that forum are running it.
Thanks for the links. It looks like I have to give up Nova Launcher and/or flash another ROM to use the widget. I'm not interested in doing this right now. Maybe as I get tired for the newness of ICS, I'll try one of the methods.