It wasn't as hard as I anticipated. For a one-off flip-and-hold it's reasonably simple. If you want something that allows the user standing opposite you to input, then that's going to need a little more work.. you'd have to somehow trap the input before the OS, and munge the coordinates (we're probably back to interrupt handling).
I hacked together a "flip-hack" using the method I mentioned in my previous post (actually I did everything but the screen-flip, 'cos I was feeling lazy), and it works fine (I didn't touch a single driver, either

...but it'll also only work on a StrongARM and has no input).
It could also be done really easily with GAPI. Just invert and copy the screen as your application starts, then blit it at the screen until they let go of the button or whatever.
Cheers,
Ref.