Yes, it's reversible.
To reverse, put your finger over the hole in the mag catch's opposite side to catch the spring and plunger.
Reach into the frame and turn the trigger bar lifter assembly until it points backwards, then pull the lifter up and out of the frame.
The mag catch can now be dropped out.
To re-assemble, insert the mag catch into the frame, and use a small screwdriver to press the spring and plunger into the catch.
Insert the lifter assembly down into the hole in the frame, and pressing in on the mag catch plunger, push the lifter down until it slips into place, locking the mag catch into place.
Turn the lifter around to the front.
As discussed on the forums, the mag catch is actually FASTER and easier to operate with your trigger finger, so you may not want to reverse it.