IMO, horseshoe crabs do not belong in home aquaria. In the wild, they would get very large, but sadly they do not live long enough in home tanks. It is
not normal at all for them to swim upside down, and is most likely due to the number one cause of death, IMO, in home tanks: too much flow. They are not strong swimmers, and get caught up in the flow in our tanks, causing them to lose control and get slammed around or sucked on to the intake.
They will eat a variety of foods, but larger pieces are probably better (as opposed to brine or flake). They will also eat good worms and things in your sand bed....therefor they are not good for tanks using a deep sand bed as a primary filter. They should spend a good deal of time burrowing into the sand, and so it is important to have relatively fine sand and not crushed coral. Watch for them bulldozing things (best not to have a lot of rock so they have room to wander).
They do molt from time to time, as they grow.
How old is your tank?
Oh, and...
WELCOME TO THE BOARD!!!