Yes, the treasury and the fed was right to take the $1 Trillion coin off the table, because there are too many risks associated with having currency that large. With currency that valuable, security would be a problem. There are other ways for people to keep track of their money and invest it than needing a coin that large.
The trillion dollar coin was a ridiculous idea that would not have helped solve the core issue that was plaguing the economy. It is a bad idea to simply mint or print money to solve economic problems. Making a trillion dollar coin would have set a dangerous precedent for our nation.