It's easy to reverse the audio. You simply right click on the file and in the process menu there is a reverse option. Since you have studio 4 using a reverb or delay inside the software wouldn't work well since you can mixdown the stereo output. You wouldn't be able to get just the reverb or delay without the original tracks. If you had a hardware reverb you could probably ouput the track to that reverb then come back in a couple of channels and record the reverb signal. You might be able to get a reverse delay plugin to do something similar and would probably be an easier choice.

Thanks