At the part in the bedroom where Billy is telling Sidney that he didn't do it. The killer comes in and stabs him in the back but the blood appears on the front. The knife didn't go through him because of the padding So where did the blood come from?
At the point your refer to, Billy is not stabbed in the back. Sydney says Behind You!, he turns round and THEN gets stabs a couple times before turning back to face the camera.
As DarkSaber2k wrote, Billy does get stabbed in the stomach. But if you watch at the end when Billy and Stu are going to kill Sydney, Billy has blood on his back and he never was stabbed in the back. Figure that one out.
All right. I guess I should be the one to remind everyone that he wasn't even stabbed then. It was an act. It wouldn't matter where the "blood" was because it wasn't blood. Billy wasn't stabbed until he was in the kitchen with Stu.