Its a stroboscopic effect. Your eyes can only process information properly which is below a certain amount of frames per second. When wheels rotate slowly we see them in the direction which they are supposed to be rolling in, but when the rotation of the wheel crosses a certain speed, we observe its motion in a totally different way. Assume we observe a point on the wheel. At slow speeds, we'd watch it in this order: 30, 60, 90, 120 (in degrees) and so on. but when that certain limit gets crossed, at one second we may observe the position of the point to be at 30 degrees, but in the next "frame", the wheel might have rotated an almost complete cycle and we may see the point at 25 degrees! If enough of these events happen in a sequence, our eyes observe them as the wheel rotating backwards. I hope I've been clear enough!