I don't agree, Tom. The fact that the fifteens are offset implies that this is an original Coliseum PA cabinet. I suppose that this could have been done later, but I doubt it, especially considering that the tweeter hole has been covered.
You're right about keeping the insulation on the walls. Insulation can have a negative effect, if the cabinet is stuffed, but merely lined is almost always good, cutting down on internal reflections that can hurt the sound.
Sorry, Skippy.