We have observed distinct temperature-dependent magnetization reversal modes in a perpendicular (Co/Pd)4/Co/Cu/(Co/Ni)4/Co pseudo-spin-valve, which are correlated with spin-transport properties. At 300 K, magnetization reversal occurs by vertically correlated domains. Below 200 K the hysteresis loop becomes bifurcated due to laterally correlated reversal of the individual stacks. The magnetic configuration change also leads to higher spin disorders and a significant increase in the giant magnetoresistance effect. First order reversal curve measurements reveal that the coupled state can be re-established through field cycling, and allow direct determination of the interlayer coupling strength as a function of temperature. ; Comment: 16 pages, 4 figures, 1 table