you can use the seed to recover your wallet .
Of course it's good to be able to recover without trustedcoin, but that's the point of 2-of-3 (compared to 2-of-2), and giving another party sole access to the third recovery signature.
Requiring both your private keys be in one place, as Electrum advises, seems to render multisig useless...
Right?
There are two types of multisig wallets in electrum:
A) 2fa with trusted coin
B) multisig. 2 of 2 or 2 of 3. no third party like trustedcoin is involved with this wallet type.
In the case of the type A the wallet mnemonic is indeed displayed at the time of wallet creation but it is not saved to disk. You
are advised to start the wallet creation on an offline system and then move the wallet file to an online one to complete the wallet creation.
In the
case of B if you use multiple devices you never have all the private keys on one system. I recommend B.