I can't think of any reason to have the jockey wheel raised and don't recall ever seeing one that way?
Down seems to be the obvious way to go for me as i travel with a front heavy 55 Kg (Noseweight) at the front then procede to add to that by adding another table, a TV laptop, speakers etc to the front then lower a conciderable bulk onto the remaining seat (me) making the front even heavier 
Seriously though the only thing that comes to mind would be to take the weight off if the jockey had an inflatable tyre but even then I don't really see the need.
Handbrake is always on on a site as I can't be bothered to chock the wheels 