Interesting question... The safety of this depends largely on the width of your kayak.
In my mind, the swivel motion would make it more difficult to pedal? It might also create an unwanted rhymic side-to-side tipping motion of the kayak, especially with the higher center of gravity caused by raising the seat. Aside from potentially tipping over, I assume that the side-to-side rhythm will create more drag and make for a less efficient ride? Again, this is simply my assumption... I could be wrong on this.
For what it's worth, I have not seen a swivel seat in any kayak. I have seen just about every other creature comfort, but not a swivel seat. I assume this is because the swivel will be prone to tipping the kayak.
Just my two cents. Take it for what its worth :-)
The Bluesky 360 has a swivel sea;t and, I just saw some mfgr. has come out with a more standard form kayak with a swivel seat. It might be Nucanoe . . . I can't recall.
But, that these exist doesn't change the validity of Mike's concerns. I have a Native Ultimate FX 12 footer, narrow at just over 30" and if I raise the seat to its higher setting, it
materially changes my balance in the kayak. 4" is a heck of a lot of rise to a manned kayak's center of mass.
I'd still go for it. There are swivel bases out there, pretty cheap, too. A handy guy could rig one up and give it some time on the water to see if the added benefits outweigh any negatives. You'll certainly be able to increase casting opportunities. Nothing quite like being in a fixed seat kayak and having it "weather [censored]" away from your intended casting target.
Brad