Never really thought about it till now, but from what I recall of my readings of it, and fusion reactors in general, you'd see a destabilization and then a snuff-out in the space of a few seconds. Whether the destabilization will cause some kind of explosion, I'm not sure, but I think it's unlikely, since the reaction is contained with magnetic (and later, gravitic) constrictions.
I say it will go out quickly (well, it all depends on the power of the beam as compared to the power of the reactor) because you cannot build a real fusion rocket. You cannot build a real fusion rocket because the act of expelling your fusion product will cool the reaction below what is required to maitain fusion, and in quick order. You need very high temps and pressures, and having a hole in your reactor alleviates the pressure.
I suppose its PLAUSIBLE with future developments that these can be overcome, but I am not a fusion scientist and can't tell you the math behind these assertions.
ADDED: Crud, I just realized you also asked about fission plants. That's a lot easier to answer. The reactor would reduce its output until it stopped. Fission reactions are (put simply) just accruing enough material in one place to ALMOST make a bomb. If you reversed the polarity of the dampers, you'd PROBABLY get a runaway reaction and a fission bomb explosion. The fission reaction is controlled by a set of control rods, which act like a damper. I don't expect that a regular reactor would use enough material to create an explosion if the fuel rods were removed fully from their control assembly, but if you "undampered" them, that would reduce critical mass to the point where you get a big boom.