Disregard previous comment, I had removed the xorg xonf file to debug and forgotten to add rotate in xorg.conf.

The following is the correct output of ltrace:
ltrace xrandr -o left                                                                                                                                                                                                                                            
__libc_start_main(0x804bc40, 3, 0xbfd74354, 0x80511c0, 0x8051220 <unfinished ...>                                                                                                                                                                                                                                              
strcmp("--rate", "-o")                                                                                                                                                                                = -1                                                                                                                     
strcmp("--refresh", "-o")                                                                                                                                                                             = -1                                                                                                                     
strcmp("--version", "-o")                                                                                                                                                                             = -1                                                                                                                     
strcmp("--screen", "-o")                                                                                                                                                                              = -1                                                                                                                     
strcmp("--query", "-o")                                                                                                                                                                               = -1                                                                                                                     
strtol(0xbfd7539f, 0xbfd74204, 10, 0xb77cbc85, 5)                                                                                                                                                     = 0                                                                                                                      
strcmp("normal", "left")                                                                                                                                                                              = 1                                                                                                                      
strcmp("left", "left")                                                                                                                                                                                = 0                                                                                                                      
XOpenDisplay(NULL)                                                                                                                                                                                    = 0x0999e008                                                                                                             
XRRQueryExtension(0x999e008, 0xbfd7421c, 0xbfd74218, 0xb77cbc85, 5)                                                                                                                                   = 1                                                                                                                      
XRRQueryVersion(0x999e008, 0xbfd7420c, 0xbfd74208, 0xb77cbc85, 5)                                                                                                                                     = 1                                                                                                                      
XRRGetScreenInfo(0x999e008, 637, 0xbfd74208, 0xb77cbc85, 5)                                                                                                                                           = 0x99ab140                                                                                                              
XRRConfigCurrentConfiguration(0x99ab140, 0xbfd7422a, 0xbfd74208, 0xb77cbc85, 5)                                                                                                                       = 0                                                                                                                      
XRRConfigSizes(0x99ab140, 0xbfd74224, 0xbfd74208, 0xb77cbc85, 5)                                                                                                                                      = 0x99ab16c                                                                                                              
XRRConfigCurrentRate(0x99ab140, 0xbfd74224, 0xbfd74208, 0xb77cbc85, 5)                                                                                                                                = 50                                                                                                                     
XRRConfigRotations(0x99ab140, 0xbfd7422a, 0xbfd74208, 0xb77cbc85, 5)                                                                                                                                  = 15                                                                                                                     
XSelectInput(0x999e008, 637, 131072, 0xb77cbc85, 5)                                                                                                                                                   = 1                                                                                                                      
XRRSelectInput(0x999e008, 637, 1, 0xb77cbc85, 5)                                                                                                                                                      = 0                                                                                                                      
XRRSetScreenConfigAndRate(0x999e008, 0x99ab140, 637, 0, 2X Error of failed request:  BadValue (integer parameter out of range for operation)                                                                                                                                                                                   
  Major opcode of failed request:  154 (RANDR)
  Minor opcode of failed request:  2 (RRSetScreenConfig)
  Value in failed request:  0x4b0
  Serial number of failed request:  14
  Current serial number in output stream:  14
 <unfinished ...>
+++ exited (status 1) +++