Really what it means is that past the event horizon you can use the direction in space between you and the singularity as a way to measure time, specifically the amount of time left before you reach the singularity. It's not so mind blowing when you interpret it that way now is it? You can imagine many things in ordinary life that you use to measure time without claiming that time has literally swapped places with it. On a road trip, the number of kilometres to your exit tells you how long you have left, that's using space as a proxy for time... big deal. The notable difference between a road trip and a black hole is that on a road trip you could stop for a break, you could maybe take a detour, you could decide to go back home... and these would all break your use of space as a proxy for measuring time. Well with a blackhole you can't do any of those things, there is no going back, there is no detour, the relationship between the spatial direction towards the singularity and time is fixed and causal and there's nothing you can do about it.
The phrasing used is used almost certainly to evoke some kind of voodoo mind-blowing mystery that completely disappears when you get down to the more strict formalism.