Ok, I understand that. My personal preference for it would be a systemui applet (that's the one that opens after pressing power button, right?) or hildon-home-menu applet (that's the one that opens after clicking on the area with time in the top left, right?) which displays on the button current state of swap (which swap is used, when was last reswap) and, after clicking on it, opens dialog with options to:
1. add/remove swap partitions (no need to automatically detect i guess? that would be too much to ask for ) and ability to set the default one selected upon startup and fallback one used when default one is not available during startup
2. set the interval (timer or maybe time of day to do this - maybe alarmd can be used?) when reswaps should be done and between which partitions added in point 1 and in which order (or disabling automatic reswapping)
3. ability to manually reswap to any partition added in point 1

That would be perfect for me... system-ui applet or hildon-home-menu applet, because it would be easily accessible from whole system...

Edit: ok, forget th system-ui or hildon-home-menu ideas, maybe a control panel applet would be best, as it is a good place for setting this and maybe there's no need to put more garbage into other places (after all, setting reswap intervals or manual reswapping shouldn't be done that often, so no need for easy access). However, I would hate to have it as a normal application visible on application list.