Get/modify taxonomy term info in node edit form field? How do I modify the taxonomy terms that are listed as a field in my Node edit form?  

I need to be able to hide/unpublish/disable my taxonomy terms.  Since there is no way to "unpublish" taxonomy terms the way you can unpublish a node, I have created a boolean field in my taxonomy term that holds its status (enabled/disabled).

I would like to use the value of this boolean field to determine whether or not to add a warning text in the taxonomy term name (eg. Termname [DISABLED]) so that users choosing that taxonomy term are properly warned.  

If it matters, I'm currently using the select list widget.

I know I can look up each term in hook_field_widget_options_select_form_alter since the tids and term names are available in the $element, but I hope there is a solution which won't require me to re-load/re-fetch the term from the database again.
I know I can look up each term in
  hook_field_widget_options_select_form_alter since the tids and term
  names are available in the $element, but I hope there is a solution
  which won't require me to re-load/re-fetch the term from the database
  again.


Unfortunately I think you will have to load them again and do the hook_field_widget_options_select_form_alter. There are a lot of functions to load taxonomy information which might be helpful and some of those probably have caches and were used in building the node form so the cache is already primed. 

Is your concern around performance or code complexity?