I wonder how long they'll stay up for. With the lower orbit, I suspect they'll have a short lifespan (unless they have a motor onboard to push them along).
Then there's the increase in velocity since the orbit is now smaller, which is about 300 m/s.
So overall the drag force doubles, but there's no way to tell how long the lifespan is without knowing a coefficient of drag and using a much more complicated atmospheric model that takes into account things like Sun and geomagnetic activity.
Electric flywheels can only alter the attitude (orientation) of spacecraft, not its orbit. For that you need fuel.