Thank you too for your comment. I think you have a point there. Cloth masks can still stop droplets, so they should be effective in preventing one from spreading and getting droplet-borne infections. However, the main mode of transmission of most respiratory viruses seems to be aerosols rather than droplets (see link below for further details if you are interested).
All that said, cloth masks still have some particle/aerosol filtration efficiency, which would prevent some aerosols from passing through. So, cloth masks would still protect others from you, as well as you from others (although not as effective as surgical mask and N95).
As to whether one direction is more effective than the other, I'm not really sure. But I also think that cloth masks (or any other types of masks) would protect others from you more effectively. After all, the first barrier is already there on you, and others may not wear a good mask properly.