I've done this many times. All you need to do is Close the Socket, re-execute the MODBUS IP Configuration with the new attributes, then re-connect the Socket with the new attributes. I've never had any problem as long as I allow the few seconds if takes perform all the tasks. There is no need to restart the PLC.
Edit: I see you're actually redefining the Protocol also. I've never tried that, but I suspect re-initializing the Socket and re-executing the Configuration block should work. The guys at support@unitronics.com should be able to give you a definitive answer on this.