The Aurora Borealis
A reversal of the world's poles could allow the aurora borealis to be visible at almost any latitude. Under normal circumstances, the earth's magnetic field repulses many of the visible waves of the aurora borealis, but a shift in the poles is often accompanied by a weakening of the planet's magnetic field, which allows the aurora borealis to be visible in a far wider range.
Weakening of the Earth's Magnetic Field
A reversal of the poles is often accompanied by a weakening of the planet's magnetic field on all levels. Historical evidence has been found that suggests the Earth's magnetic field weakens roughly by a factor of five during such changes, though it has also occurred that a far more dramatic weakening has taken place, leaving it possible that any future pole-reversal may see a reduction of the magnetic field by as much as 90 percent.
Possible Extinctions
The many animal species that rely on the planet's magnetic field to plan and follow migratory routes may be seriously endangered by even small shifts in the earth's poles. A pole reversal may lead such animals to areas unsuitable for their habitation -- either lacking sufficient food or of an improper climate -- that could lead to species extinction in sensitive animals.
Technological Problems
Those technological instruments which rely on the present conditions of the earth's poles would likely become defunct, inoperable or obsolete if the earth's poles were to truly reverse -- and especially if it were to reverse quickly. Satellites in particular rely heavily on the location of the poles, and the services they render -- from cell phone service to GPS navigation -- would most certainly be compromised.