I'd always thought it was understood you couldn't change after other picks were made, UNLESS their were extenuating circumstances (as Jeep mentions).
But I'd been on the fence about the Suzuki situation, anyway, until Splinter made some excellent points that hadn't occurred to me.
I'd also add, that other teams were at a disadvantage by Suzuki being effectively taken off the boards for a few rounds - causing some changes on which and when catchers were taken after that.
It'd be like if Jeep rescinded his Thome pick, but waited til after Vis picked, so that he wouldn't have a chance at him.
In short, I don't think it should have been allowed