The way Cold Steel works is designed to prevent trolling with it. However it makes it far too risky to be used on anyone besides confirmed Unseen. And those are always executed in the day or by Prince first.
However there is another problem that cold steel has: it doesn’t truly solve the original problem, it just moves it from knight to everyone else. All you have to do is try and be obnoxious to the Knight and he will CS you and die. You could do this with both knights and the Prince all in the same game if you wanted.
So if that trolling potential is still there then why is the fix? It’s not like there isn’t precident for CS not suiciding. It’s exactly what CC does for it’s Vig equivalent.