Thank you for the detailed well-reasoned description of your use case.
Unfortunately, we just won’t support that use case. The reason is that for the situation you describe, using AxCrypt or any kind of encryption is just simply massive overkill – and may also lull some users into feeling secure. But they are not.
I fully understand the reasoning between having the option to disable some features or configure for your own perceived level of security. Perhaps you are in fact fully informed and this is just what you want and need. Problem is that it’s very unusual.
We have experience from millions of users of AxCrypt in both version 1 and 2, and we are very sure that enabling your use case, will cause many to believe it’s a better situation than it is.
At the very least, we recommend that separate users have separate accounts on the computer – they don’t have to have strong passwords (or even any passsword!). This is both more convenient – each user gets their own bookmarks, recently used items in Windows etc etc. And AxCrypt gets a chance to invalidate the current sign in session at the appropriate time.