Simple question, does it make a difference on which direction the fuel pump rod is inserted - BB Chevy 454.

No.

not at all.

Unless it's an aftermarket bronze tipped rod for a roller cam.

well, yes and no-if its a new one(stock style, non bronze tipped) doesnt matter-if its a used one, it should be put back in the way it came out-if its rev., it can wear on the cam lobe-pushing on the fuel pump plunger roughs up the end, and when that is put against the cam lobe, it can cause failure
some may not agree with this, but i have seen it first hand, so buy a new one on a rebuild, their cheap