Ian,
The dogleg nature of the hole combined with the punchbowl like green would lead me to forgo the "Lion's Mouth" bunker unless you can clearly establish the original location and configuration.
If you have the supporting evidence, evidence that would satisfy challenges from within the membership, then I would consider it.
However, the current hole is not without sufficient challenge, on the drive, approach, recovery and putting.
I would also reflect on the potential impact to scores early in the round.
With OB left on # 1 and the dogleg on # 2, do you want to add a feature that will drive some scores higher.
When Knollwood was built, and until not that long ago, there was no OB left of # 1.
On the other hand, if you reintroduce it, you can always remove it after a year or two of having it in play.
I don't think there is a right or wrong answer, only membership complaints
I really like Knollwood, it's a pretty neat course with variety in the terrain and the holes.
Fun to play every day.
And what a finish............ or two