You can't turn off the "key lock" functionality (last checked on OS X 10.78.32). You can however install KeyRemap4MacBook, which allows you to make modifier keys sticky without this "key lock".
One caveat: having installed and used version 7.5.0, it hasn't worked well with sequences likeThere is ⌘+⇧+{a bug in KeyRemap4MacBook (next tablast tested in version 8.0.33) that makes key sticking unreliable when typed quickly. The ⌘ is forgotten about and I end up typing "{" instead of switching to the next tabfast.
Thus I conclude that getting useable It may be fixed in future versions, but until then reliable sticky keys is a massive painaren't available.