Well, I'm sure someone else with a bit more experience will chime in, but I'm pretty sure it's always reversible.
I've heard all different techniques for getting a bow either way out.
One of my fellow instructors was repairing an old jazz box last week that had a neck with a SEVERE forward bow. He turned it over (top facing down) put the neck up on a neck rest (at the nut) and put a heavy sand bag on the middle of the neck... and left it for a few days. It worked for him!
Does this bass have a truss rod in it? Have you tried adjusting that?