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I wasn't a giant fan of the "respec the last 3 invested points" option at the beginning, but it has grown on me. The system allows you to try out a new skill, and even dump a few points into it before you are fully committed to it. However, it also has a nice permanence, which makes you carefully consider your skill choices. In some other games, there is no reason to ever level up the same class twice, whereas in TL2, I have 4 different engineers, all built totally differently. This wasn't implemented to smother your build creativity, but rather as a constraint that we feel makes the game more fun, and your choices more meaningful.
Was their response to a thread about respec on runic forum.