Yes, exactly what nbp said. I would hesitate to call the sum knowledge of CPF equivalent to an entire industry, in this case, the portable lighting industry, but I will say that "forward" and "reverse" are the only two terms by which I have heard switches called. I remember the time before reverse clickies, when the only real distinguishing feature was whether the forward clicky had momentary or not. These days, reverse clickies make it far less likely a light will activate in one's pocket, and make changing modes while a light is on a breeze. You do lose momentary, though.
If you want to attract/keep customers, it is probably best to use the terms commonly accepted, regardless of the formal electrical lexicon.