I dint think removing lockout would benefit the community as a whole. I suspect if you were to look at raw numbers, a very small percentage of people on each server would have actually completed (possibly even attempted) second coil. The lockout prevents people who don't have statics from falling miles behind in rapidly advancing item levels and tries to prevent an "us and them" situation. Making a very sweeping and likely flawed generalisation, I don't see the people who have second coil on farm really wanting to run it lots of times with new players for fun if they've already geared up, which they will have done within a couple of weeks if it's taken off lockout.
Edit: oops, thought I was in a different thread with the initial response. I'd still raise the question though of whether it would actually help to increase the population running the content for the first time and whether or not those with the debut would bother to run it if they were getting no reward other than a few soldiery tomes.