As far as exploring meanings, yes, we do it all the time. The whole point of reading the scriptures is to find meaning there. Are we encouraged to take as doctrine meanings that conflict with the teachings of the prophet? Well no, we aren't. If I read in the new testament that women should be silent in church and I take it to mean that women should not speak at church on Sunday and I tell them to be quiet, I'm probably wrong, since women are encouraged to speak and to teach in our meetings by the presidency of the church. There is no penalty for exploring that possible meaning. We're encouraged to search, ponder and pray to receive personal revelation. Not every scripture and interpretation is defined for us.