I think two things need to happen before Fitterer gets another chance.
1) Take responsibility for what he did. Until that happens I don't think anyone will ever give him a second chance.
2) Be willing to accept any extra surveillance, trade vetoes, whatever else for his first chance back in a league.
That being said, regarding "warning commishes" ...most of us know. You're right, some do not. I think it's a good idea maybe for one person to calmly point out his past, and link to a thread, but there's no need to get your blood pressure all up and hijack the thread.
Depending on how you define second chance, he's never really gotten one (many aliases on the board... he's TRIED, but never had one.) I don't think he should until he admits what he's done and takes responsibility for it, but if that happens I think as long as he's monitored, someone should give him a shot.
(I just noticed the parallel's between this and Rose...)