No. "Reverse racism" exists--it's a particularly odious kind of racism: Racism that pretends to be for good instead of evil. It's a subclass of racism, not a separate thing.
There is no such thing as reverse racism. Now If you want to say black folk are racist against white folk, that would still be racism. reverse racism would be something like, not being an asshole.
Reverse racism is racism engaged in for the purpose of rectifying racism.
No that would still be racism. define racism anyway you like, then reverse that definition, as in find its opposite, and you don't wind up with racism. It is a term of art used as a trigger shut down discussion.
Please note that reverse racism is a subclass of racism. Thus saying that an act is racism is not evidence that it's not reverse racism.
What's reversed is the motivation.