Hi taliesin, I take it this is the coconut palm (cocos nucifera) that you have there? I've grown several differant palms over the years (indoors and out) but never grown this one. They do look impresive growing out of that large nut but I think it's a plant that you can't expect to keep for too long as a house plant,so I'm afraid I would agree the those people who told you that and it's best to regard it as more of a novelty plant. One that may be easier to grow for a longer time is the dwarf coconut palm (cocos weddeliana) if you can keep up the humid atmosphere it requires.
It could be that you have over-watered it, which is easy to do and can rot the nut if your not careful.
Only repot it if it's absolutely bursting out of the pot as they hat root disturbance, and the only one size bigger.
Ps never water the nut directly. Good luck. Tbird+