Not easily. It is an "external rotor" type of system meaning the magnets in the flywheel are whirling about on the outside of the stator. It needs to be switched the other way around, with a small rotor in the middle and stator outside, like this:

Its definitely do-able, but not affordable.
The stock one can be turned down, if you don't mind having a 9000rpm bomb next to your leg. But it doesn't help much, since all the weight is still to the outside.