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I have found a dictionary definition of これもまた, (meaning roughly "this is also") so I'm assuming that this is a shortened version of it. What troubles me is I can't find it without the また, so I wonder if it is very informal or if it shouldn't be used in polite writing/speech. Any insight on this would be really helpful.
今の文学青年はセンチメンタルになることを怖れている。これも傷つけられるのを怖れる一種のさもしい心のあらわれかも知れない
It's just a literal "this too" in the example you gave.
今の文学青年はセンチメンタルになることを怖れている。
This is what we're talking about. Young readers don't like to get too sentimental. This concept is what we're referring to in the next sentence with これ.
これ(=センチメンタルになることを怖れていること)も傷つけられるのを怖れる一種のさもしい心のあらわれかも知れない。
So this idea of fearing the sentimental may be a lonesome expression of fear of being hurt, to offer a simple translation. The も is implying that there's been another mention of these manifestations of those fears, or at least that the reader is familiar with them, and this is referred to as 一種. So there are more of these concepts; this just happens to be one of them.
