Knowledge of fiber microstructure and orientation in the brain is critical for many applications. Polarized light imaging (PLI) has been shown to have potential for better understanding neural fiber microstructure and directionality due to the anisotropy in myelin sheaths surrounding nerve fibers of the brain. Continuing to advance backscattering based PLI systems could provide a valuable avenue for in vivo neural imaging. To assess the potential of backscattering PLI systems, the ability to resolve crossing fibers, and the sensitivity to fiber inclination and curvature are considered across different imaging wavelengths. Investigation of these areas of relative uncertainty is undergone through imaging potential phantoms alongside analogous regions of interest in fixed ferret brain samples with a five-wavelength backscattering Mueller matrix polarimeter. Promising phantoms are discovered for which the retardance, diattenuation and depolarization mappings are derived from the Mueller matrix and studied to assess the sensitivity of this polarimeter configuration to fiber orientations and tissue structures. Rich avenues for future study include further classifying this polarimeter's sensitivity to fiber inclination and fiber direction to accurately produce microstructural maps of neural tissue.