Silly wives tales, Rancho's can be run in any position.
If they are twin tube shocks, like Raunchos, then they really need to be mounted body down. Rauncho used to say that you could mount their 9k's either way. They don't say that any more, and THAT is where the confusion came from. Mounted body up puts some of the body mounted valving in the gas and not in the fluid. they don't work so well that way.
With mono-tube shocks, like Bils, SAW's, Fox's, etc. you CAN mount them either body up or body down. In these shocks all of the valving is on the piston.