As the others have said, a "Lockout" refers to the fact that the unit will be a 1 bedroom villa and a studio villa - opened to become a 2 bedroom. The 2nd bedroom (the studio) will have a door that opens into the entryway of the one bedroom AND a door which opens into the hallway. I believe this means that you will also have a "kitchenette" in the 1 bedroom (studio), in addition to the full kitchen of the one bedroom. The "kitchenette" includes a small under counter refrigerator, microwave, coffee maker and sink. The one bedroom kitchen includes just about anything you might need, including place settings for 6, glasses (Beverage, Juice and Wine), pots and pans, a dishwasher, disposal, and a toaster and a washer and dryer!
The BCV is beautiful! I think you will love it. The proximity to Epcot and MGM can not be beat, and you have all the excitement and fun of the Boardwalk right outside your front door. Storm A Long Bay is lots of fun too!
Have a Great Trip!!