If done correctly, I don't see any reason why it wouldn't be strong and stable. Think about ski boats - they have folding towers and they take a lot of abuse. Atlantic Towers may be another option. It would probably have to fold backwards otherwise it may not actually save any height. Even going backwards, you'd probably want to do some quick measuring to be sure.
However, unless you can get an "out of the box" folding top, it might be less expensive to just raise your roof. Although, I suppose if you had a good, honest custom builder, then maybe a folding top wouldn't be that much more. After all, it's really just a few different joints that are needed.