Assuming by "backup" you mean the server backup functionality built into Windows Home Server V1, the backups are just files (or hard links to files) in the file system of the backup disk. There's nothing magical about them; you can copy them anywhere you
like. Windows Home Server 2011 will not, however, recognize it as a backup disk, so copying from the backup to your server will require manual intervention.
I'm not on the WHS team, I just post a lot. :)