Ya know what? I agree with you. That would be a good option. I've added creating an option for text vs icon as a to-do for the 3.1 release.
Until then, if you want to add it now, you can create a template override by copying the /modules/mod_sclogin/tmpl/joomlaLogin_horizontal.php (or vertical.php) to /templates/sourcecoast/html/mod_sclogin/joomlaLogin_horizontal.php. Then, edit that file. At the bottom you'll see a </fieldset>. Add the following code above that:
<ul>
<?php
echo '<li><a href="' . $forgotUsernameLink . '">' . JText::_('MOD_SCLOGIN_FORGOT_USERNAME') . '</a></li>';
echo '<li><a href="' . $forgotPasswordLink . '">' . JText::_('MOD_SCLOGIN_FORGOT_PASSWORD') . '</a></li>';
?>
</ul>
</fieldset>
That last line is the one already in the file.
I hope that helps get you started. Obviously, you can test and edit those links however you want.
Let us know how it goes and thanks for the feedback,
Alex