When you escape text for use in SQL, it is only escaped for the actual SQL execution, not for what is stored in the database. It is essentially the same thing as escaping characters in PHP:
echo 'This here\'s a test, y\'all';
Just as the back-slashes above are only for the PHP parser and do not actually get output to the browser, so the back-slashes used as escape characters in your SQL string are only for the SQL parser, not for the actual data stored in the DB.