Last (and only) time I was there, there were no signs saying you couldn't fish it there. This was probably sometime in 2012 or 2013, FWIW.
It's in Michaux SF, so it's public land. Unless there's some local warning/posting by the state there (usually for some safety reason), it's fine.
I caught a fairly nice Brookie from the reservoir outflow, but the stream is tiny up that far and pretty well choked out. I didn't bother to fish it other than from the bridge to the outflow pool.