I set up mine that way.
It works fine.
Taking it off and setting it back up is doable, but it does take about 20 minutes. You can help yourself out a lot if you mark all attachment points and adjustments with a sharpie. It still won't be perfect when you put it back on, but it will be close.
The only drawback I have with mounting it upside down is that it tends to throw wood waste up instead of down and it seems to make the dust collector less efficient.
Digger