An extension would be better in my opinion
What do you mean by extension? Don't count on the forum software itself to be modified, and I doubt you'll find a ready made add-on that works with the custom upgrades here.
I've learned a lot about event handling recently, but I think this software is too old for that. I'm sure PG could disable the CTRL-Z restriction in just a few lines once he verifies it doesn't affect any background processes.