One of the great benefits from guided rail routing is that the guide rail will hold the router from either in-thrust or out-thrust loads caused by the rotation of the cutter as it enters the wood. As a result, if you are using the router on a guide rail, direction of cut does not matter. If you are using it free hand or with an edge guide or with a bearing guided bit best practice says to follow dirtydees advice. The amount of wood you are removing will dictate a lot about direction as well. If you are doing a light score cut you can safely move the router with a bearing guided bit or an edge guide either way. If you are hogging out a bunch of wood in one pass then only cut in the direction that the bit will pull the bit or the edge guide into the work piece. As dirtydeeds points how, however, that can produce massive tear out as the blade exits the uncut edge of the work piece ahead of the router.
Just don't underestimate the strength of the thrust load a heavy cut can produce so be sure, be sure, be sure you work piece is very well clamped down to something solid so it can't move. A bit an inch or two in diameter turning at around 20 grand can produce a lot of leverage if it hits something hard in the wood like a knot or grain change. As the bit diameter goes up, so does the leverage. That is why I never like to hand feed my shaper no matter how well guarded.
I sometimes use a 4" diameter 5" high segmented carbide shaper bit with a bearing for template work. The templates always have large cam type clamps to hold the work piece and two secure hand holds with deflector guards. Even so, I once had a piece of black walnut I was pattern routing for a table leg catch on something in the wood. It ripped the work piece off of the template, pulled the template (and me) in towards that rotating mass so quickly that I didn't even know what was happening until it was all over. The template was shattered and the work piece looked like a bomb exploded near by. All I could see in the work piece that could have caused this trauma was a slight grain change that put some falling grain in line with the cut at a point where the template curved inward and the fact that there was a bit more than 1/8" of wood projecting over the edge of the template.
Since that episode I now always use a smaller bearing guided bit to cut a follower edge an inch or so high on the work piece clamped to the template. Then I use the follower edge resting on the bearing to cut the rest of the profile instead of the bearing resting on the template. That way, if the work piece does catch, it will be pulled off the template and into the bearing which will help keep it under control. I do the same thing when pattern routing, make a light cut with the work piece clamped to the template, then reset the cutter bearing to follow on that light cut surface to finish the rest of the edge. Hope this helps.
Jerry