No, no swiveling. I'm with you on the thought of holding an electrically powered tool.
It's not the right design to be a universal pipe vise, but sure looks like it holds something rough (of ONE particular diameter).
It seems to hold a Stanly 8-B router relatively well, but not perfectly. But it just doesn't seem like a way you would want to hold a router, unless perhaps it was meant to bolt to another machine (and not a bench).