Options defined in "InputClass" sections of Xorg configuration can be seen (and tested!) at runtime using xinput command. If your config file is valid, you should see something like this:
$ xinput list
⎡ Virtual core pointer id=2 [master pointer (3)]
⎜ ↳ eGalax Inc. USB TouchController id=4 [slave pointer (2)]
You can see whether the changes are being seen by X11 by searching for "eGalax Inc. USB TouchController" (the name of the device, as per your file) in /var/log/Xorg.0.log .
I encountered a similar issue where SwapXY wasn't getting respected, and I couldn't determine why using the log file. Using the TransformationMatrix option instead of SwapXY worked for ...