I just realize on my SWK that the pleats all go in what I want to describe as a clockwise water wheel direction.

Is there significance to that direction of pleat? Does that mean there is a difference if I were to spin one direction in it over another? Is the 'handedness' of it unique to knife pleats?

Yeah, I can imagine that pressing would be easier with the uniformity, as compared to two different directions, if that has a part in this.