This is a bindrune I made for the Counsel Arcanum Special Operations division, which I am a member of, at Toy Soldiers Unite. Our mission is to help Dr. Steel take over the world.
A bindrune, also bindrunar, is a symbol made up of two or more Norse runes superimposed for a magical purpose. The rune components are selected based on their symbolism and should be harmonious in nature. A good bindrune is functional, relatively simple to draw, and visually pleasing.
Update 11-1-09: I finished my ceramic charm engraved with this bindrune! Check it out: [link]
I think the idea of upside down runes having the opposite meaning is from people applying Tarot card rules to runic divination. It doesn't really make sense, since not all runes can be turned upside down, like Isa or Gebo. I know a lot of people use inverted runes in their casting, but personally I think it just makes it needlessly complicated. I think it's more important to have a visually balanced bindrune than making sure each rune is facing the "correct" way. Thanks for asking such a good question, I had to give my answer a lot of thought!
Yeah, all I really know is that runic divination and other forms of Norse magic are actually a lost art. But, obviously, runes that cannot be inverted have no inverted meanings. Take Sigel, for instance. Victory is always victory. However, with Tiwaz being inverted it could mean a failing of justice or victory for those who are unjust. Either way, it's more of an intellectual pursuit for me and I like taking into account the inverted meaning of a rune when I design bindrunes. Of course, the axis that each rune is drawn on can also be taken into account. Ultimately, you're probably correct in your idea about Tarot rules being slapped onto and entirely different practice.