Most poons looking up are looking for easy meals. Crabs and baitfish mostly have white bellies and actually crabs will have white on the underside of their legs, all pointing together behind them as the swim sideways on the surface. If you look at a lot of "good" tarpon flies, they either look like crabs or baitfish. The white leather strips on the underside help represent the profile of the bait from below (i.e. lighter on the bottom, darker on the top). I tie most of my poon flies to mimic crabs, since that is like candy to a grown poon, and then change them up when the crabs are gone to more baitfish patterns. I've caught way more poons on natural patterns than with attractor patterns. The appearance of ungelating bunny hair from below, never help a thing, at least for me over the years.
IMO if the fish is looking up at it, this is the better way to do it.
In my "experience," strip side down works! I've seen it both ways. But personally, I tie all my poon flies (and not buy them from someone who is not out in the field). I see what works and doesn't and if I'm throwing a fly with bunny tail for poons, the strip better be facing down, or I'm cutting it off.
But hey, whatever works for you.
