You
can change from Hi to Lo when slowing down to speeds below 25 mph, IIRC. However, you do need to wait several seconds - foot off the gas and coasting in Neutral - before the gearbox completes the switch and the Lo light stops flashing and stays on steady. Only then you should put it in Drive and, by that time, you will be going several mph slower (especially if you started the switch at the 20/24 mph limit): low range will engage way smoother than the way you did it. I prefer to do this while stationary myself to minimize that "bump", but I've done it while on the move on a trail as well, so as not to **** off the rest of the convoy behind me.
You can also switch back to High range at speeds up to about 35/40 mph. Select Neutral, then press and hold the switch (just briefly touching it doesn't always register, I've found) on the Hi position until the Lo indicator extinguishes in the instrument cluster, then you can flip the shifter to Drive.