Backward current can occur if the regulator's output voltage is higher than its input voltage. This situation exists when the regulator is not powered through USB and you supply an external voltage to the PIC.
However this is only a problem if something draws high current from the regulator's input to ground. The Microstick II has a diode which protects the regulator from shorts or reverse polarity on the USB connector. The only other components on the input are a 200k resistor and 4.7uF capacitor. If you apply external power then a short surge of reverse current will pass through the regulator as the capacitor charges, but this probably won't hurt it.