I was wondering if hydroxy terminated Poly(ethylene oxide) can become active again and be used in further polymerization reactions (specially anionic polymerization) to form a block copolymer?
Yes of course, the PEO are synthesized by anionic ring opening polymerization of ethylene oxide, initiated by alcoholate. In the end of the polymerization, the omega chain end is an alcohol group. If you use your PEO as macroinitiator to synthesize a block copolymer, the OH group will initiate for example the ROP of lactones (caprolactone, lactide,...) or ethylene/propylene oxides,...
However if you plan to use an heterodifunctional PEO as macroinitiator (with one terminated OH group) you have to pay attention to the PEO-diol (OH-PEO-OH) content in your heterodifunctional PEO, since this impurity can lead to the formation of a triblock copolymer instead of à diblock copolymer.