It is a problem for any hub that has a load bearing screw in section, as do current Schmidt and Shimano dynohubs (the old black centre Schmidts are OK, but they have been out of production for ages).
If run the wrong way round, the centre will tend to undo itself, like the RH side of an Italian bottom bracket, or normal cranks/pedals used at the front of a tandem. How quick it will undo will depend on the quality of the threads, how tight it was done up, and any locktite present (or not).
If it undoes too far, the very thin wires connecting the generator on the middle of the hub to the terminals on the outside will snap, and you'll be left with a dead hub.