I just verified it with objectType <Object type="1283" Class="Container" Size="80" SlotTypes="0, 0, 0, 0, 0, 0, 0, 0" id="Soulbound Loot Bag">
The server does report soulbound loot bags within the UPDATE packet _but_ it does not report the actual content of the bag (which it does for normal loot bags and all player's inventory). Either this is in order to trigger a loot-drop-sound at all clients or a design flaw ...
So you can not exploit this ... you would have to guess the actual objectType of the item in the bag and even then the server would most likely give you a negative invswap result ...