the seed is grayed out by design in wallets with 2 factor authentication.
and for restoring, all the things i know of involve having the seed. the 2FA wallets that Electrum creates are 2 of 3 wallets and your seed is 2 of the keys but your wallet stores only 1 of them (so the seed is grayed out) and TrustedCoin has the other. to restore you use your seed to get 2 keys and that would be enough.
maybe someone else has some workaround like by contacting TrustedCoin and asking them for help but other than that you will need the seed.
edit: oops i didn't see your other comment
I found another seed phrase written down and it was the correct one. Happy that I was able to restore successfully! However, now I can't delete the old wallet as it says my password is incorrect.
you don't have to delete the wallet, let it be there for now. and for deleting it you don't need any passwords. just go to its location and remove it
http://docs.electrum.org/en/latest/faq.html#where-is-my-wallet-file-locatedbe careful what you delete though!