I had this problem too, but found I could get it back without rebooting:
1) Go to Settings -> Applications -> Manage Applications
2) Select "All" box, then scroll down to Swype
3) Tap "Force Stop", and OK any scary messages that come up. The default fat-finger friendly keyboard will be used for everything.
4) Get back to Settings -> Language & Keyboard -> Swype
5) Scroll to bottom, tap Tutorial.
6) A "Select Input Method" popup should appear, select Swype, and get out of the Tutorial. The swype keyboard should be back now.
It's not elegant since you have to kill the Swype process, and there's probably a more direct way of selecting your keyboard, but this'll at least get you out of the woods.
Good luck!
--jls