Applying the first solution consistently causes text strings to appear like "dlrow olleH", which IMHO is not very practical. In general we expect array elements, including byte and character arrays, to be listed in the locale's normal writing direction, which would generally be in ascending order by index from left to right. The second solution is more internally consistent, but breaks with the expected big-endian writing direction for Hindu-Arabic numerals in English text.
I can't say I've encountered any hex editors which support either option.