I have to disagree with parts of DTCM's and BH's posts.
I'm sure the passage got it's name, Edward's Shortcut, during the early explorations of OFD 2. Since then it's become a standard trade route through the cave. It certainly has been since I started caving, over 30 years ago. Pitch Bypass and Wonderbra Bypass in Draenen are the same in that they quickly became standard routes. So it's been a long time since it was really a shortcut, in the same way that those points in Draenen are no longer really bypasses.
The climb can be tackled in two ways. Either direct, which is more of a chimney climb or by a traverse- climb / climb-traverse, depending on which way you're going. The direct chimney has very little in the way of holds on it and has become very slippery due to the smoothing of the rock. At least in a fall, due to the confines of the passage, you're likely to stay upright and be able to slow yourself by pressing outwards.
The traverse-climb is another matter. There are some holds but they are sloping and have also become very slippery. You are exposed over a slightly greater height for longer and the consequences of a slip here, are likely to be more serious.
A landline is likely to make the direct climb down slightly easier but not help much climbing up, unless the person is strong enough to lift their weight with their arms while holding the rope as there's nowhere really to use your feet. A lifeline will at least make it safer. I don't think a lifeline or handline will be of much use on the traverse-climb.
As an example, I'll describe the last time I did the climb. We had a group with mixed climbing ability and confidence. We were tackling the climb from above and I rigged a rope from the boulders mentioned by Babyhagrid. These are a little way back from the climb and at floor level so not ideal. I gave each person the option of a handline or a lifeline. I suppose if I'd taken a longer rope, they could have had both! I would say most people still struggled on the climb. Probably the biggest help, was that the first person down, (experienced caver, opted for a lifeline but was still nervous on the climb) stayed at the bottom and let everyone else land on his shoulders and then lowered them by squatting. This did lead to some hilarity, with one of the ladies ending up sitting on his shoulders, with her legs wrapped round his head, while he was facing her!
All that, of course, was a faff and took a long time, at a place which I remember, in it's more grippy times, taking seconds to descend and a bit longer to thrutch up or carefully climb and traverse. I think a couple of well placed holds in the direct chimney would allow cavers to go back to the simple approach of just getting there and climbing the thing, rather than having to carry, rig, use and derig tackle, for a 3-4m climb. There probably wouldn't be any need for a hand or lifeline here as falling would then be very unlikely and the consequences if someone did, wouldn't be very serious. I'd have thought that most trips to this area of the cave, probably most trips into OFD, will be done without carrying any gear, although in some circumstances I will, depending on the route/group.