I don't think the tote with the legacy lining is reversible. If it's the seam on the outside of the bag you are referring to, I always wear mine with the seam against my body. It bugs me to have it facing out; I don't know why. I wish Coach made 'em without a big seam running down the middle.
I wear mine with the seam on outside because the cell pocket is easier for me to reach! And my OCD thinks that the zipped pocket should be against my body. But I was also wondering what others did in regards to the seam!