I'm using Want figure height to ignore side caption height to place a caption into the outer margin. Unfortunately, i can get it only to work with left pages. On right pages i can't muster bringing the float into the outer margin.
Working with left pages (caption in outer margin):

Not working with right pages (caption in binding margin):

PS: Is it possible to get a proper top, bottom alignment with this \smashcaption hack? It is always a bit off.
CODE:
\documentclass[twoside]{book}
\usepackage[
letterpaper,
includemp,
headheight=0.5in,
left=1.25in,
width=6.75in,
marginparsep=0.25in,
marginparwidth=2in,
bottom=1in,
top=1in]
{geometry}
\usepackage{lipsum}
\usepackage{blindtext}
\usepackage{floatrow}
\makeatletter
\newcommand*\smashcaption{
\def\FR@makecaption##1##2{%
\vbox to\z@{%
\vss
\captionfont
{\captionlabelfont##1}\caption@lsep##2%
\par
\vss
}%
}%
\caption
}
\makeatother
%\floatsetup[table]{}
\begin{document}
\blindtext
\thisfloatsetup{%
floatwidth=\linewidth,
capposition=beside,
capbesideposition={bottom,outside},
capbesideframe=yes,
capbesidewidth=\marginparwidth,
capbesidesep=quad,
floatrowsep=qquad}
\begin{figure}[h]
\makebox[\textwidth][l]{
\rule{4.5in}{0.5in}
}
\smashcaption{Nulla malesuada porttitor diam. Donec felis erat, congue non, volut- pat at, tincidunt tristique, libero. Vivamus viverra fermentum felis. Donec nonummy pellentesque ante. Phasellus adipiscing semper elit. Proin fer- mentum massa ac quam. Sed diam turpis, molestie vitae, placerat a, mo- lestie nec, leo.}
\label{fig}
\end{figure}
\blindtext[4]
\thisfloatsetup{%
floatwidth=\linewidth,
capposition=beside,
capbesideposition={bottom,outside},
facing=no,
capbesideframe=yes,
capbesidewidth=\marginparwidth,
capbesidesep=quad,
floatrowsep=qquad}
\begin{figure}[h]
\makebox[\textwidth][r]{
\rule{4.5in}{0.5in}
}
\smashcaption{Nulla malesuada porttitor diam. Donec felis erat, congue non, volut- pat at, tincidunt tristique, libero. Vivamus viverra fermentum felis. Donec nonummy pellentesque ante. Phasellus adipiscing semper elit. Proin fer- mentum massa ac quam. Sed diam turpis, molestie vitae, placerat a, mo- lestie nec, leo.}
\label{fig}
\end{figure}
\blindtext[2]
\end{document}
