The Industrial Switch can be fully rotated by pressing and holding r (as the default key) and moving the mouse while holding the left mouse button. The chosen rotation angle can then be "locked" too by simply typing "r", so that all items of the same stack will be placed facing the same direction.
The Industrial Switch is part of the Industrial Super Bundle that was launched during update R44 in June 2017, and it can only be crafted (default key to open the crafting menu is "q") after buying the Industrial Super Bundle in the Store.
Industrial Switches as crafted items are also included in the Industrial Pack and in block kits that correspond with Industrial Blueprints, but none of them will include the according crafting recipe.
To craft 4 Industrial Switches, you will need (as of June 2017)
Industrial Switches can be toggled on and off by directly activating/deactivating them (key "f" by default or right-click).
They will accordingly send "true" or "false"-signals as soon as they are switched on (true) or off (false).
If the Wiring Tool is equipped and the cursor points at an Industrial Switch, then the Send Hotspot overlay image will become visible.
The Industrial Switch is an output-device, a pure sender without receiving-options. It can be connected to receiving objects like Doors, Fans, Lamps or Beacons.
Alternatively, you can connect the Industrial Switch to the receive hotspot of different kinds of gates, like Delay Gates, Flip-Flop Gates, Inverter Gates or Logic Gates that can then be connected to receiving objects like Doors, Fans, Lamps or Beacons.
If the objects are already activated/open/switched on, but the switch is deactivated, you will have to use the switch twice in order to send the according off or on signal again. Only if the switch is turned off, the receiving objects will be deactivated/closed/turned off.