Hi,
As long as all the hosts are no longer using the data store and the cluster is not set to be using host swapfile volume (rather than store with VMs) then you should be able to unmount the old swap volume.
Bare in mind, vMotion/svMotion a VM you will have to make sure all the files move and the VM is set to store its swap with virtual machine files. Check that the old swap volume is no longer in use and unmount it then. The quickest way in theory is to make sure all VM's are set to store swap with virutal machine files and power them off and on again, forcing a new .vswp file in the same locaiton. But this would of course affect your VM uptime.
I have seen in the past that even though the volume was no longer used by any hosts, that all hosts needed a reboot before I was able to unmount the old swap data store, just in case you experience that!