change.js

$(function(){
  $.contextMenu({
    selector: '.context-menu-one',

    items: {
      "block": {
        name: "Lock",
        icon: "edit",
        callback: function(key, options){
          var m = $(this).text();
          var set = block(m, $(this)); // passando  - this - como parâmetro de função


        }
      },
      "sep1": "----------",
      "unblock": {
        name: "Unlock",
        icon: "cut",
        callback: function(key, options){
          var m = $(this).text();
          var set = unblock(m, $(this)); // passando  - this - como parâmetro de função

        }
      }
    }
  });
});

function block(x, thisObj)
{
  if (x === "false")
    x = "true";

    thisObj.html(x);
    $(".lock1").html('<i class="fa fa-unlock" aria-hidden="true"></i>');
}

function unblock(x, thisObj)
{
  if (x === "true")
    x = "false";

    thisObj.html(x);
    $(".lock1").html('<i class="fa fa-lock" aria-hidden="true"></i>');

}