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But he has been working on his coaching qualifications and is set to pass on the benefit of his experience to Livi frontmen Lilley, Jim Hamilton, Marc Libbra and Colin McMenamin, and he's also looking forward to showing his "talent" off in the nightspot.
Lilley, who opened the scoring in the friendly win over Clyde on Saturday, was a Rangers fan as a kid and is relishing the prospect of working with McCoist on the training ground.
The30-year--old said:'If Ally was to come in to coach the strikers there would be no one better qualified for the job.
'Many clubs are using specialist coaches now for various positions, especially goalkeepers, and there's no reason why it shouldn't work the same way for strikers.
'Any edge in front of goal is appreciated and with someone of Ally's experience handing out the tips you can only benefit.
'I followed Rangers as a kid but I've got to admit I didn't really study him from the striker's point of viewas it was just a case of going along as a youngster and enjoying the whole match.
'He has scored so many great goals for club and country and the one that sticks out for me was his goal for Scotland against Switzerland at Villa Park during Euro 96.
'He was more renowned for his tap-ins but that one was an absolute screamer. Although Marc, Jim and I are quite experienced strikers, Ally could provide us with tips we've probably never even considered before and his presence will be a real boost to the young players here.'
Lilley, who recently returned to Livi after a short spell at Boston United, praised boss Preston for moving for McCoist.
He added: 'It would be a feather in Allan's cap if he could persuade someone like Ally to help the team. It shows great thinking.'
Preston said: 'I spoke to Ally in early June and asked him to consider coming in a day a week or as often as his commitments allowed to work with the strikers.
'Hopefully we can get together this week for further talks.'
Lilley broke the deadlock from the spot; on 21 minutes after the striker was caught by Kevin Fotheringham.
Steven Boyack doubled the home side's tally 50 minutes before Libbra fired home a 20-yard drive to complete the scoring.