I've read several reports and dicussions about DodoCase (notably on Macrumors forums) and some users seem to have a problem with the durability of the product, notably around the fragility of the frames as well as the wearing of the pads that secure the device in place.
About folding it backwards, a DodoCase representative on the Macrumor forums categorically stated that it can do that without breaking - although he added it is created using traditional book-binding methods, so there is a limit to how much and often you can manhandle the cover like that.
DodoCase does have the first-mover advantage of being one of the earliest and best-known brands for users looking for Moleskine-style cases. Other comparable cases I've seen include Caveman Case and Pad and Quill's Cover Vol.2, as well as Treegloo's fully-customizable cases (which comes at a fraction of the price of its competitors.) I've actually placed an order on a Treegloo, so waiting to see what it's really like.