You seem to be under the impression that Eliezer is going to create an artificial general intelligence, and oversight is necessary to ensure that he doesn't create one which places his goals over humanity's interests. It is important, you say, that he is not allowed unchecked power. This is all fine, except for one very important fact that you've missed.

Eliezer Yudkowsky can't program. He's never published a nontrivial piece of software, and doesn't spend time coding. In the one way that matters, he's a muggle. Ineligible to write an AI. Eliezer has not positioned himself to be the hero, the one who writes the AI or implements its utility function. The hero, if there is to be one, has not yet appeared on stage. No, Eliezer has positioned himself to be the mysterious old wizard - to lay out a path, and let someone else follow it. You want there to be oversight over Eliezer, and Eliezer wants to be the oversight over someone else to be determined.

But maybe we shouldn't trust Eliezer to be the mysterious old wizard, either. If the hero/AI programmer comes to him with a seed AI, then he knows it exists, and finding out that a seed AI exists before it launches is the hardest part of any plan to steal it and rewrite its utility function to conquer the universe. That would be pretty evil, but would "transparency and oversight" make things turn out better, or worse? As far as I can tell, transparency would mean announcing the existence of a pre-launch AI to the world. This wouldn't stop Eliezer from make a play to conquer the universe, but it would present that option to everybody else, including at least some people and organizations who are definitely evil.

So that's a bad plan. A better plan would be to write a seed AI yourself, keep it secret from Eliezer, and when it's time to launch, ask for my input instead.