I'll offer a counter opinion on this modification and some of the discussion I've read to this point (starting w/ the latter)....
W/ regards to engaging A-TRAC at higher speeds and possibly causing damage or control losses - you won't. That's not how A-TRAC works and I think some people are confusing the functionality of A-TRAC w/ TRAC / VSC. When you feel wheel spin in 4Hi and you bog it isn't because of braking - its because the ignition is getting cut by the computer.
The braking applied to the wheels to direct power to the other wheel on the axle in A-TRAC mode is minor and is not at all equivalent to riding the brakes or using an e-brake to distribute power. You are not loading the drivetrain, no more than driving a vehicle w/ an old fashioned LSD w/ clutch packs is loading the drivetrain. The clutch's in a LSD diff don't provide any noticeable drag to the drivetrain - they provide just enough drag to the wheel that is spinning so that power is diverted to the wheel w/ traction. There is ZERO attempt to stop wheel spin - just to balance it across the axle.
A-TRAC works exactly the same way, but instead of using clutches, it uses the vehicles brakes which are much easier and cheaper to service - very cool system! A-TRAC also works better than any LSD that I'm aware of, providing tighter balance of wheel spin across the axle. Again there is ZERO attempt to stop wheelspin, A-TRAC balances it across the axle. If you can't get grip with either tire, the tires will spin (vigorously

). This will NOT cause any drivetrain damage in and of itself.
Vigorously spinning the tires does have the potential to overheat the system if done long enough and vigorously enough. I've done this spinning up a wet rocky mountain slope in my Tacoma. A-TRAC was doing a spectacular job pulling the truck up through the rocks w/o the rear e-locker and I was getting a little to joyful and exuberant w/ my throttle. The A-TRAC light flashes when the system is overheated and A-TRAC disengages. About 2 minutes of cool down and everything was fine. I continued on w/ more sensible throttle input and never had the problem re-occur.
With regards to the e-locker and use at higher speeds, this is the same e-locker that Toyota puts in their Tacoma Pre-Runner TRD OR models. These are two wheel drive trucks w/o a low range. My
opinion on the reason that Toyota does not make the locker available except in 4L on the 4wd platforms is not because of safety or handling, but rather perceived use. They expect that if you are using the locker you are in a serious traction problem and will be in 4L.
Now for my opinion on performing these mods to my vehicles - I have no use for them. In loose traction conditions like mud, sand and snow (off road), 4Lo will easily drive the vehicle in speeds in excess of 20mph w/o over working the motor/drive train. I just don't believe that wheel spin across an axle is a significant problem at speeds above 20mph - you are not experiencing wheel stoppage at those kind of speeds, LSD/Locked Diff is not going to help you (and you are significantly increasing the potential to break something w/ the locker). For situations where the traction advantage of A-TRAC/locker is needed you should be in low range.
I know what's coming next - those who have performed this modification swearing I don't know what I'm talking about! It makes a huge difference driving in sloppy mud/sand at higher speeds. I don't doubt these experiences are true, just not for the reasons you think. When you trick the computer into believing it is in 4Lo it de-activates the traction control and VSC. Now your throttle won't cut out on you when you slide or the wheels spin while you are in 4Hi and the performance improvement is immediate and very noticeable.
Only problem is you can achieve the exact same thing by pressing and holding the Trac Off button for 5 seconds while stopped. Lots of people don't realize that you have to press and hold in order to shut the VSC off, so consequently, every time the vehicle slides it cuts the ignition and bogs the motor.
In conclusion - Modifying A-TRAC to work in 4Hi won't increase potential to damage to your system. Modifying e-locker to work in 4Hi won't damage system in and of itself, but higher speed operation does increase potential for damage with any locker, regardless of gear range in use. Despite the fact that there is little increased damage potential, I don't see any performance gains to making this modification. Toyota has thought the systems through pretty well and they work well.
David