No, I don’t think you can do what you want.
The class will live in the process space of the BTSNTSvc. You’ll need to restart the service to get the updated values. Unless you use an instance class.
Using Dispose is dangerous. I think I read a blog post that says not to use that.
Maybe you could use the rules engine with a fact retriever. Use it to check for updated values. That’s the best I can think of.