Honestly, your slow code is due to the fact that you don't preallocate rloc1 or rloc. You will find that simply adding
rloc1 = zeros(im_row*pixprow,2);
rloc = rloc1;
just before the first loop will already great improve your run time. But to answer your question, you can replace for loop 1 with:
pix_count = im_row*pixprow;
rloc1 = zeros(pix_count,2);
[rloc1(:,2) rloc1(:,1)] = ind2sub([pixprow im_row],1:pix_count);
rloc1(:,2) = im_col - rloc1(:,2);
and loop 2 with:
rloc = zeros(size(rloc1));
rloc(2:2:pix_count,:) = rloc1(pix_count:-1:pix_count/2+1,:);
rloc(1:2:pix_count,:) = rloc1(1:pix_count/2,:);