if you rotate the axel make sure it has no camber built in it or you will have a problem when loaded ...as it the wheels will lean to the middle and not straight
as Woodster said... if the axle has camber in it, if you have to roll the axle over to get it to seat to the springs on the other side, swaping it to the other side will cause extreme tire wear...
BUT...
depending on the U-bolts and how they attach, and if you
do not have spring seats welded to the axle, which is unlikely, you may be able to make the swap without rolling the axle (some square axles dont have welded spring seats).
if you have welded spring seats, they would have to be changed to the other side of the axle so you can keep the camber in the correct direction.
and it may change the trailer height more than 2.5 inches, unless its a drop axle with offset spindles.
measure from the center line height of the axle where it sits now, and then to where the center line
will be after modification. this is how much it will change the elevation.
unless the spindles are offset from the axle.... then you have to double the distance of the offset and subtract it from the axle center line measurement...
if you have much of an offset, you can actually lose height by swaping, depending on which way the offset goes in relation to the axle center line.