D7 Note Currently, what with how Drupal 7's fields are written in a way so you can't really tell how to get at the data, and with Corresponding Node Reference already having a successful D7 port, there are no plans to update Backreference to Drupal 7. If you plan to upgrade, I suggest changing your Drupal 6 site to use Corresponding Node Reference, and then update.
Backreference Module provides a nodeapi interface to maintain 1-1 relationships between all shared instances of a nodereference field. This means that given a field instance of field_reference1, if you add a reference to NodeBeta to NodeAlpha's field_reference1 and NodeBeta has an instance of field_reference1, then NodeAlpha will be added to NodeBeta's instance of field_reference1.
There are other similar modules out there that do similar work, such as NodeReferrer and Node Relationships. In their cases they use views or similar queries to query for the nodes that are pointing to module B, where BR writes to a CCK Nodereference field. This has some advantages:
Sometimes when working with large database generated sites, or administrating large user-generated content sites you can end up with hundreds of empty taxonomy terms and tags.
Allows to apply a sexy, graphical button style using CSS Sliding Doors technique in a generic way. Auto-applies to all form buttons, but can also be applied to any list item or hyperlink having the CSS class .button.
Additionally wraps all form actions/buttons throughout a Drupal site into a consistent <div class="form-actions"></div> markup container, which is awesome for theming.