Used by the media to explain how politicians often say crazy things to appeal to their base during a primary, and then adopt more moderate attitudes once they win their party's nomination. More generally, it's a euphemism for lying or any behavior which upsets our basic expectations of the social contract.
Mitt Romney pivoted on every major issue during the debate.
When Fabrizio slept with all those hookers in Bangkok, he pivoted on his wedding vow to be "faithful and true til death do us part."
During the Srebrenica massacre, the Serbian army pivoted on the position that slaughtering thousands of unarmed and defenseless civilians is a shitty thing to do.