I know that this is absolitely confirmed for alliance, im guessing it's the same for horde if you dare venture to alliance territory, Redridge.
1. There is a ship just south of Ratchet where the horde practices lockpicking to 100. Go there as a member of the alliance and head down to the bottom deck.
2. Look for a brown chest. On rollover it looks as though you can preform no action, but click your lockpicking skill and Bang! On rollover it says, "Jewel of the Southsea." This chest will respawn after EVERY successful lockpick. The chest will get you from 100-175 all in good time. Possibly 90-175 (at 100 it was yellow for me).
3. Head to Scarlet Monastary to the locked door (if you've done the instance you will know what door this is). Lockpick the door.
4. With door unlocked enter into the instance and pickpocket a mob. Exit.
5. Post pickpocket and exit the doors have reset themselves and are once again locked. This will get you 175-250.
Not sure if this has already been mentioned, but it sure is worth mentioning again! Again, the directions from 100 (possibly 90)-175 are alliance directions only. Have fun and skill away! This will prob be fixed soon so hurry!