As noted, flipping the switch while it is running does not change the motor direction, in fact you have to let it come almost to a complete stop in order to change directions. There is not enough torque with either of the ones I have to loosen the screw that attaches the wheel, but I put a little blue lock tite on there anyway...
Also as noted elsewhere, if you spin the wheel fast enough in the opposite direction then switch the motor on, it will continue to run "backwards" but adding the switch makes it easier than grabbing the drill every other time you switch it on.
And for the sake of the old timers let's get this straight: DPDT means Double Pole, Double Throw.
SPST is Single Pole, Single Throw like a simple light switch, open or closed.
SPDT is Single Pole, Double Throw like the switch used in a three way circuit to switch lights off or on from two locations.
DPST is Double Pole, Single Throw, like two SPST switches side by side switching two lines at once, similar a 220 volt breaker in your panel for example.
DPDT is Double Pole, Double Throw like two SPDT switches side by side.
After that is gets complicated...
Mark