You could do some experiments, putting the wheel at various angles and letting it go to see where it goes.
Also, no one has suggested the possibility that this is an optical illusion. It could that there is no real reverse motion at all and that your brain is misinterpreting what you are seeing. There are many websites that show such illusions of motion. You can have an enjoyable Google session, finding them and seeing the effects.
This is a direct parallel with linear motion. Apart from a 'bounce' due to resilience in the system, you would hardly expect a mass that is brought to a halt, to move backwards after it comes to rest.