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I'm not sure how you'd reverse the desiccation, but if you toast it, it'll dry out fully and be all brown and crispy. Then I seriously doubt anyone would notice!
Try soaking them in hot water for about 10-15 min , they tend to rehydrate to some degree. you can then squeeze out the excess water and use the coconut. but dessicated coconut never tends to have the same crunchy nutty texture as fresh coconut (if thats what you're aiming for). But as Syronai says, it toasts up beautifully, with a much richer nutty aroma than plain coconut.