I am in full support of allowing the ladder cheat in CK, DK Japan, and US Set 2 (as well as the level-skip on the barrel boards in the applicable games/versions).
The ladder cheat can occasionally be useful to escape the occasional unfortunate barrel combo, but will not give a point-presser much if any advantage, and competitive Kong is ultimately about point-pressing.
The move will and does allow novices/intermediate players to survive longer (which is why it was corrected in the first place), but those playing at an expert level are good enough on barrels that they'd rarely need it in order to survive (especially on Crazy Kong, where only 4 barrels at a time can be on the screen). If anything, hanging around on ladders wouldn't do anything for a strong player but keep him from getting more points.
(Of course, having said that, I'm already imagining spots in which one could integrate the ladder cheat on barrel boards in such a way as to point press them more aggressively, so I'll have to experiment later...)
As for the level skip cheat, I support it fully on any barrel board, and certainly on 22-1, and I don't think TG ever should have had a rule against it. That move carries such a high degree of risk that I could hardly call it a "cheat" at all. It's actually more risky to use it than it is to just clear the board normally, and doing it leaves a ton of points on the table, so you're not getting an advantage scorewise (except for the extra L22 boards, which you deserve if you can pull off the jump). In any case, executing it correctly, on demand, requires a high level of precision, and you're either right or you're dead, so if somebody wants to do it, they should be allowed to.