I think some of the pushback you are getting here is that timelock generally implies that it is enforced by code, not something that can be reversed or changed by a human. As far as I can tell, the timelocks you use for piggy can be unlocked if piggy the company needs to unlock them.

Perhaps it would be helpful if you described how the timelock is enforced: If you have a multisig somewhere with the user's bitcoin, how are the keys to this multisig "timelocked"? Is there an HSM server that signs the transactions and that cannot be altered by piggy? How do you guarantee the timelock?

If the timelock is only enforced by piggy's protocols (which can be changed) then perhaps timelock is not the right term here. (And also, I don't understand why I'd ask another person to hold my bitcoin just so I can't get at it for some amount of time...)