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I vote NO!!!
There is no reason for an extension. My reason is based on the PRINCIPLE of the thing. The rules are very explicit about the deadline and everyone should know about it. Shame on any owners who don't know this basic fundamental rule.
As a side note I have pulled the trigger on at least two trades in the last 10 days that I may not have done if I knew that I had two more weeks to make trades. This reason is really irrelevant (see PRINCIPLE above); however, I give it to illustrate that the timing of the deadline is not arbitrary. Rather, the timing is a key element in the GM strategy.
Also, the notion that the present system helps active owners too much is probably offensive to most people that are active owners. Does this mean that Purebaseball would be better off if all of the active owners dropped out?