Using a wrapper for VLC named Vlc.DotNet, I was able to write my own video player with the buttons and controls displayed just how I like it.
It calls the frame forward function, but I wrote my own method in my program to step backwards in the position in the video approximately one frame based on the number of frames per second of the media that is playing.
It does not work all the time. Sometimes, when you click the back frame button, nothing happens in the video. I am guessing that it has to do with Mokubai's comment above. BUT, it works most of the time, if you are trying to get to a particular frame.
If I may brag a little, I have buttons for jumping forward and backwards a configurable number of seconds. I have enhanced rate of playback controls that let you halve or double your speed as well as finer controls that can change the rate by a small amount and a numeric box to enter the rate you want. In addition, I have an enhanced time slider that lets you issue keyboard sequences to hop to any spot in the video by percentage by hitting 1-9 (10%-90%). I just like to make it how I like it!