This article from 2003 talked about two-way traffic on the canal: https://pancanal.com/en/panama-canal-begins-tests-of-simulta...
- On the new locks they recycle ~60% of the water used already, it's a smart system.
- Another commenter pointed out that they have to allow fresh water through the lock system to prevent salt water contamination of the lakes.
I guess a reason they haven't retro-fitted (yet) the 60% water saving mechanism to the older locks is the scale of the engineering efford involved, plus they can charge people $4.5 million to jump the queue ;)
Also, anything taking the old locks out of operation for a few weeks/months is basically a no-go. That's just too costly.
As a side note, do keep in mind that water is already "saved" a little by going up in a convoy. With the three lock chambers, you get to reuse the same water three times. Not exactly true of course because convoys start and end, but you get the idea.