It's a 2 of 3 so where are the keys? One is the password from the wallet the second is the 2FA code. Is that checked by trustedcoins so they give the key then? Where is the third key? I remember having read that trustedcoins can help in these cases but I'm not sure anymore who holds keys where.
When you create a 2fa wallet you get two "keys" in the form of the seed mnemonic but only one of those two is saved in the wallet file. During normal day to day operation of the wallet you need trusted coin's cooperation to sign transactions. But if you wrote down the seed you can restore the wallet and then you won't need trusted coin's permission to spend your coins. At that point it ceases to be a 2FA wallet though.