you are able to do that. As far as I understand, these rings are just keychain ring thingies that hold a plastic coated paper circle inside. So replacing them is possible and easy.
By the way, I’m a bit disappointed at the level of information about these RW Editions. I had to dig through the OUT Facebook presence to find out that “RW” stands for “Rim Weighted”, for instance. A little bit more information about those editions would have been appreciated.