Yeah, they are able to utilise differing RTP models based on country. I’m pretty sure Videoslots only applied their reductions to the UK and a couple of other countries that impacted their cash flow more due to tax reasons.
In regards to swapping in/out of higher and lower RTP games, I don’t know if there is anything specific relating to this in the UKGC rulebook, but it may fall under something like clarity and fairness. In any case, it probably isn’t in the casinos favour to do this, as it won’t just be as simple as flipping a switch, it’s more likely to consist of a conversation and agreement at the time between the provider and the casino.