The whole point of hotswapping is lack of your eeprom backed up. Obviously it is possible. Otherwords, any of us who mention hotswapping are staging a very big hoax.
The only GOOD reason other than for the sake of learning is because you don't have your hard drive password or a copy of the eeprom.bin. Otherwise, it is silly and risky. I love doing it, but if I have the eeprom, I never do it. Don't argue when you don't really know you're right.