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Here's a video that me and my friend made today. He figured out that Hotswapping with a Toshiba/Samsung Drive on Xbox 360 actually does work!
The first xbox shown was a BenQ/Lite-On drive. They are easy to hotswap with because the magnet can be removed from the top of the disc cover (as seen in video).
The Toshiba/Samsung has a non removable plastic piece that keeps the disc from coming out of the tray, so nobody has been able to find out a way to Hotswap with them until today
Update: Need more views on youtube. watch the vid even if you don't have a toshiba/samsung drive