Yep. I'm running a FrontRunner rack rather than a Rhino, but I have both reversed the awning mounting brackets ................. and mounted them underneath the roofrack. 
My awning sits well below the top of the roofrack - and I find that in this position, it works better in foul weather as there is not that "gap" between the awning and the roof of the vehicle for the wind / rain to get in under. There is also less wind noise at highway speed with the awning mounted like this than there was when it was originally mounted higher.
 
   
If I do manage to hit anything getting into carparks etc (and I have done a few times when I was working down in Perth) - I hit the rack and not the awning. Fortunately, the FrontRunner rack is a solid bit of gear, and other than a few scrape marks on the top, I haven't damaged it yet. 

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