No, this is over-complicating a very simple concept all over again.

Reverse-racism doesn’t exist because it’s just regular old racism. White people can be the target of racism just like anyone else, but this is distinct from the fact that as a privileged social identity they may not be nearly as harmed or affected by that racism as a minority would. The fact that social power modulates our experiences of racism does not mean that some people cannot experience racial targeting.