I don't know about that inverter, but some if not most enable you to do a hard reset that completely resets everything to default values including the password if one has been set. Of course, that isn't very helpful if what you really want is to discover hidden parameters for your lathe motor.
In the case of the 200% base RPM limit, it is more to protect the motor. Inverter rated motors have "never exceed" ratings and MAX RPM is one of them. Of course, operator safety is also essential and in some situations may preempt electrical and mechanical limits. For example, I have a 3 HP Baldor inverter motor with a maximum RPM of 6000. Common sense tells me no piece of wood will stay in one piece for very long at that speed. That also exceeds the maximum RPM of most pulleys as well as the maximum operating parameters of most drive belts.
I'm pleased that I have full control of all the inverter settings on my Robust AB. Of course for most woodturners it's probably best to not even entertain the thought of messing with these settings because there's lots of opportunities to screw things up and very little chance of improving anything.