2FA wallet on Electrum is 2-of-3 multisig wallet. You have 2 keys with you. 1 foefor signing transactions, and Trustedcoin has 1 which their server is using to sign transactions. When you disable the 2FA, you will be able to use your own 2 keys to sign transactions which makes Trustedcoin key not needed after the 2FA has been disabled.

2FA wallet on Electrum is 2-of-3 multisig wallet. You have 2 keys with you. 1 foe signing transactions, and Trustedcoin has 1 which their server is using to sign transactions. When you disable the 2FA, you will be able to use your own 2 keys to sign transactions which makes Trustedcoin key not needed after the 2FA has been disabled.