In my experience Saitek controllers are not the easiest to set up. I used 3rd party profiles for the various sims on my old X36 combo which seemed to work very well. I dimly recall having to tweak a CFG file for it to work properly in FS. They might have sorted this out by now. I haven't seen any profiles for the throttle quadrant.
I've had a search on Google & the best I can find is an article on setting up the CH Products throttle quadrant. I assume this works in much the same way as the Saitek version. Here's a direct link to the zipfile which contains a PDF file.
http://home.att.net/~stickworks/cmnote02.zipThis is an extract covering reverse thrust.
Using the Throttle Quadrant with Flight Simulator
There are a few things to note about using the Throttle Quadrant with Flight Simulator. First, Flight
Simulator, at least in the later versions, seems to have no built-in capability that will allow an axis to
control reverse thrust directly. An axis can control the throttle, but reverse thrust can only be controlled
with keystrokes. It is possible to gain analog control of reverse thrust, but it requires the use of Peter
Dowson's excellent FSUIPC utility.
It is possible to control reverse thrust using the Control Manager alone but controlling it with the F1 and
F2 keys. This can be activated using the virtual buttons that the Control Manager provides. The FSUIPC
utility can be used with the Control Manager to control reverse thrust, too. FSUIPC can also be used
without the Control Manager. This document assumes that the Control Manager is installed. I've found it's
easier to set up and the detent is stabler with the Control Manager running than just relying on Windows,
but the operation of FSUIPC is basically the same with or without the Control Manager installed. The main
differences come in the calibration procedures since, without the Control Manager, the Throttle Quad must
be calibrated using the standard Windows calibration applet and FSUIPC. Both of these topics are
discussed a bit later. For operation without the Control Manager, you can skip the sections on Direct Mode
and Mapped Mode.
I don't know if it would be possible to map the reverse thrust command (F2 key) to the prop levers without using FSUIPC. Then you could select reverse by pulling the prop levers back behind the zero detent & control the amount of thrust with the throttles.