This is for Swipe 3.2 and greater.

To reset all your settings and start from scratch, simply:

1. Exit Swipe and open the Settings App on your iPhone
2. Scroll down to "Swipe" and click the icon
3. Turn ON "Reset All Settings"
4. Open Swipe

Older Swipe clients can simply uninstall and reinstall the app, which will erase almost all preferences.