I actually can't believe I'm reading this!!
Of course it matters which way the arrow is pointing!!
I will say 3 words - TO/FROM FLAG.
Yes the beam bar deflection will operate in the correct sense but the TO/FROM flag will be pointing in the wrong direction. Now imagine that the RMI or the auto VOR function is U/S. How do you know where the station is? You know because the HSI has set on it the 090 deg radial (for example) along which you are flying, and the beacon is either ahead of or behind you depending on the position of the TO/FROM arrow. Therefore it is an important part of your situational awareness.
I blame GPS myself. basic navigation skills are not what they used to be.
