There is a hitch pin just aft of the tongue jack somewhat under the battery tray. You pull the pin out and then slide the latch off the tab and the tire carrier A-frame swings to the ground. The photos show an overall view of the spare tire carrier viewed from below on the drivers side, my awesome hand pointing to the hitch pin, and the rear drivers side A-frame pivot point.
It is necessary to remove one of the WDH bars in order to slide the tire off the carrier if the trailer is hitched to your TV during the process. Right now my trailer is parked so I can slide the spare off either side with very little effort.
2006 23B Hybrid with 10k round bar WDH
2011 F150 4x4 SCREW Ecoboost, Max Tow, Integrated TBC, 3.73 LS axle, Firestone Ride Rite airbags.