Update - I have three improvements See first two Pictures
1 - The changing of spools was difficult because one of the closet pole shaft holder is totally enclosed and the shaft would not lift straight up. I replaced the enclosed closet pole holder with a 1/2 enclosed pole holder with one from a second set. It is now much easier to change the spools.
2 - The spools would slide back and forth on the shaft during movement and once one of the spools started turning another spool while printing causing the other filament to unravel on the spool. I added tie wraps between each spool and left the tail on to keep the spools separate.
3 - I found when changing filaments the plug was hard to remove and replace. I drilled 1/4 inch holes in the top and added a 3 inch piece of teflon tubing secured with a tie wrap. (don't use 1/4 inch tube from Home depot it is HPFE and it has a lot of friction McMaster has PTFE tubing). When the filament is not in use I loop the end back into the tube which prevents it from slipping back into the bin.

I designed this holder to solve three problems. 1 - PLA needs to be stored in a dry environment to prevent moisture absorption into the PLA which cause printing problems 2 - The Replicator 2 needs to be moved and turned around to change filaments. 3 - The removal of the spool from the spool shaft is a struggle.

This design solves all three problems.