Yes....when locked the handle can flip up and down, but should not turn. We all like to store the handle in the down position because it looks right.
I also noticed with our spare tire lock set, it will lock in only one of the two handle positions. If the key won't turn, turn the handle another half-turn.
I really love the tire storage design. I never seen another motor home with a better setup. Easy to get to, well protected from elements and thieves, looks great, takes no valuable space, never in the way.....a true winner.