This has been discussed many times, and even Mr Casey agrees that if a load is pulling or pushing on the cyl rod, that fluid will transfer. That is apparently happening with some loader and curl cyl.
Hydraulic lock is only when fluid can not escape.
You could also have both cyl seals, and valve leakage.
Although valves do leak, and even have a drops per minute rate for determining replacement, but it is up to you to say when.
If you hung a hyd cyl from a tree limb, filled the rod side with fluid and plugged that port, leave the base end port open and hung a 200 lbs weight on the rod, do you think that if the cyl has a leak that the fluid will transfer, and the cyl rod will extend.
Some might say you would have hyd lock, but if that were true, how come the loader arms descend and a lot of cyl seals replaced and when the seals are removed, you see the reason from torn o-rings, flatten o-rings, extruded o-rings, etc.
Both cyl and valves can be tested, with observation, physical evidence, and just common logic.
If you raise the loader arms, and shut off the engine, and remove the PB, and return hose, if the valve is leaking, the lift arms will descend, and the fluid from the cyl base end will flow out these ports.
If you collect the amount of fluid in the cyl, then you have your answer.
However if the loader arms descend and there is no or little fluid collected from these ports, then the cyl is bypassing, and the seals are bad.
Both you have the hyd shop have the ability to check out a lot of things.
Even a hand hyd pump will test cyl and valves for leakage. You can easily see the results. Even after rebuilding, you should check to see if replacing only the seals fixed the leak. The cyl wall might be worn down, or have a slight bulge.