If you Google COL2V you'll find that this is a control for ABAP List for "inversed" font, which is not upside down, I believe, but just the color inversion (e.g. white on black background).
There are many questions on SCN regarding the text rotation (use Search) but since even SAP delivers a bitmap where a rotated text needs to be in the Smartform, I doubt there is such option through the print controls.