Well, neither did I, really. But I never really tried to find any meaning behind it. Looks just like a sequence of short flashbacks.
The time-reversing was just a hypothetical question, mostly. The point is it actually happened later when the main character resurrected, I believe there wasn't any complex mechanic behind it.
All in all the story was probably intended to convey the feeling that the past and present are... interconnected? I don't know how to put this, really. Looks like I'd like to have more people comment on this, too...