Reverse telnet allows you to connect to a line on a device that supports it like a router or a Unix machine. A line inthis case is mostly a serial port but could also be a integrated modem. This way you can connect the console port of i.e. a Unix system to the AUX port on a router in a remote site and you would still be able to connect, without terminal servers or any other expensive hardware, to the Unix console. This way you can also use amodem that is in a different location to dial into whatever.
Regards, Maarten Sjouw.