This sure got derailed quick lol...
How did it get derailed? We’re talking about preferred legends for caps lock.
Okay, I’ll give you a point-by-point:
Hey just wondering how do people like the down arrow caps lock legend?
I don’t think it makes any sense
I love how symmetric it looks with the shift key. How come it isn't more common?
It isn’t more common because it’s confusing. I’m pretty sure the down arrow was originally used on IBM data entry keyboards to mean something different. In any event, the lock, the double up arrow, and text legends are all much easier to interpret.
Would you like to have it on your keyboard instead of "Caps lock" if it were an option?
No.
But again, it’s kind of irrelevant: caps lock is a total waste of a good key location, for a totally unnecessary function. If someone really needs caps lock, they should implement it via some mechanism like: (a) press and release one shift key and only the following character gets capitalized, (b) hold down a shift key and everything typed while shift is depressed gets capitalized, (c) press and release both shift keys and it turns on caps lock, with a press of either shift key turning it back off again. That way the function is available for someone who really needs it, but doesn’t waste a key.