Hi Jim,
I'm just about to post the update which should address all your reverse measurement issues - as you know it is set up for forward measuring at the moment. The new version is working quite well on my iPod for F-S riding but I just need to make sure that there are no gremlins before I let it loose on iTunes. Hopefully I'll get that done within a day or so and once Apple verify the upload it should appear in about 5 days after that.
The waypoint lat/lon logging is off by default and is turned on from the calibration course page - this to save battery power if not intended to be on. After that, it does require a valid location update before the position is logged - the lat/lon will appear in small type under the current count on page 3 if this is so. That said, by selecting a waypoint on page 4 you should be able to manually type in a position if mapping is turned on. If that isn't the issue or something else is wrong please let me know.
Thanks for the feedback from your measurements - hopefully I'll get all the reverse features for you next week.