Well, I just tested it again and now agree that there is an issue in the Visibility section. I just am not certain which of the two is the intended end result, should the locked tracks be visible or not.
In the Lower Zone MixConsole selecting all tracks and toggling the Visibilities in the Left Zone removes the visibility check mark from all tracks but still shows the locked tracks. The same thing happens if you right click on the tracks and select Hide Selected Tracks.
Lower Zone MixConsole
In the MixConsole Window however, selecting all tracks and toggling the Visibility removes the visibility check mark from all tracks and hides all tracks. To add to the confusion, right-clicking on the tracks and selecting Hide Selected Tracks only hides the non-locked tracks and removes the visibility check mark only from them.
MixConsole Window
