I need to swap T5 & T8 on the motor to get from CW to CCW. I will open up the switch and get a picture for reference. Unfortunately there isn't much info online for this switch. Looking at other drum switches it appears a bit different inside though.
How many contacts are on your low/high range switch? If its rated for 3ph power, you likely have enough contacts to make it do what you would like, provided it has additional contacts for the different coils, but as others have suggested, your best bet would be to get a fwd/stop/reverse "reversing" drum switch. 3ph drum switches just swap 2 of the line contacts to reverse the phasing, so you can use those contacts for switching the T5&T8 leads, provided it is a 125VAC motor. If its 250V 1ph, you may have to add an additional 'auxiliary' contact to turn off the second line conductor when the drum switch is in the off position.
If it were me, I would use a "reversing" drum switch, as it will act as your disconnect when turned to the "off" position, ensuring that the motor is disconnected before reversing the internal coils.
What is the make / model / voltage / phase of the motor on your drill press?
If you open up the switch you, there should be Eaton P/N on the contacts and the actuator. Most Eaton contacts are modular so that you can add / "stack" additional contacts to be actuated by the actuator / switch handle. Provided there is enough room in the housing, you should be able to add additional contacts, but again, as others have said, suggest going with a "reversing" drum switch that has fwd / off / rev positions to ensure that the motor is disconnected while swapping the coil positions.
Just my two cents!
the bed.