In a way, yes. I usually see disillusionment or a loss of faith with this card, as if something expected was, instead, anticlimactic. In a relationship, it could be that things just aren't working out for one of the parties. Where in the upright Two of Wands, there is a choice of paths to take, when reversed, neither path is viable anymore.
I never bend, fold, or mutilate. Unless I'm in a hurry.