Based on the provided information, 'Two Bottle Babies' does not contain identifiable LGBTQ+ characters or themes. Therefore, an evaluation of its portrayal of LGBTQ+ elements is not applicable.

The film 'Two Bottle Babies' does not feature any identifiable transsexual characters or themes within its narrative. The plot centers on a couple's challenges with infertility, with no elements related to transgender identity or experiences present in the available synopses or cast information.

The movie does not contain any action or adventure elements.

As an original film from 1904, "Two Bottle Babies" lacks prior source material, historical figures, or established legacy characters. Therefore, no character could have been previously established with a specific gender to be subsequently gender-swapped.

Given the film's 1904 release and lack of specified source material or established characters, there is no basis to determine any character was canonically or historically established as a particular race prior to its production. Therefore, no race swap can be identified.