I don't know if it's just me, but the DML emails seem to have been
delayed by several days...
Anyway, I don't think you could install it backwards because I can't
imagine what would hold it in place. Also, the idea of cutting a bushing
seems counter-intuitive. I would suggest your best option is to just get
the POR-15 solvent, and do it the right way. I'm assuming the part that
is seized is the U-joint to the splined steering column shaft?
Changing the bushing isn't bad at all. It's only a few bolts and
a plug to remove the steering column from the car, replace the bushing, curse
for 5 minutes because you keep collapsing the column when you try to put it
though the bushing, then eventually reattach to the U-joint on the steering
shaft.
Just make sure you precisely mark the joint to the shaft before you
disassemble or you'll have to waste time straightening your steering wheel.