No, you can't swap unrelated properties.
There's only two or three groups of properties that can be swapped for another:
1. Skills in the same grouping (for example, Music, Magery and the melee weapon skills are all in the same group) on jewelry
2. Hit Spell Effects (Harm, Dispel, magic arrow, fireball, lightning) on weapons.
3. I believe you can switch a "Hit Area" for a different type of area elemental damage ("hit fire area" for "hit poison area") on weapons.
So, you could turn "Hit Harm" into "Hit Lightning" with Imbuing, but you couldn't change it to a hit leech type, as those aren't spell effects.