HiFi Tuning fuses direction

You probably need an Electric Engineer or call GamuT to find the correct answer on this one. The arrow is pointing where the signal is flowing, very much like Interconnect Cables. I would place the fuses pointing from the power cord out(or in some cases which fuse's end is nearer to the power cord) and the arrow should be pointing >>> out from there.

Does it matter on the AC power side?

Magfan, what do you really mean here? you mean if there's a different if you placed the fuses the other way instead? I guess you just reverse the signal flow, not what it suppose to be.