Reverse and Invert a String
Pyth, 14 bytes

smCi!M_jCd2 2z


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How it works

 m           z  Map over the input with lambda d:
        Cd        Cast d to character.
       j  2       Convert to base 2.
      _           Reverse the resulting array.
    !M            Mapped logical NOT.
   i        2     Convert back to integer.
  C               Cast to character.
s               Concatenate the resulting characters.