not entirely sure what your refering to as 180 out. mine points up from the throwout rod actuator,-rod running through bellhousing-- My arm has a small bolt and nut that allows the can to actuate the throwout only so far, a bump stop if you will. I believe the can actuator arm can be "rotated" some on the throwout rod, but its pretty well set in place. I will have to look at mine this evening when I get home. If the yoke on the end of the chamber rod is what your refering to, then yes, back off the tension nut and adjust it a turn or two to fit your install, then tighten the lock nut back.
The Rotochamber can be replaced with a standard Type 9 small airbrake can from NAPA, $30 instead of $150 from the mil suppliers,,,,, just make sure you get one with only one bolt clamp, the version with a two bolt clamp will not fit in the bracket off the top of the trans. I have pondered moving the can to the driver side and having it mount almost in the same place, but actuate off the clutch pedal instead of that tight little area behind the passenger step battery box..