To be honest Miles, I wouldn't try it if I were you.
I've given this some more thought, this is the definition of launch control from Wikipedia:
Launch control operates by using an electronic-driven accelerator and a computer program. The software drives the accelerator according to engine specifications to make the car accelerate smoothly and as fast as possible, avoiding spinning of the drive wheels, engine failure due to over-revving, and clutch and gearbox problems.
What we saw last night was simply the system dumping the clutch, hence the "11" left on the tarmac.
There also wasn't any "control" only "launch" in that you couldn't be sat at the lights for example waiting for them to go green and launch as they changed using this method.
I would suggest that this is actually the car at rest, disengaging the clutch and then being caught unaware as such and dumping the clutch. Probable results after repeated use would be a worn clutch and/or a broken drive shaft.
There's no benefit to be gained from this so therefore I'd imagine it would only be doing damage. Allbeit quite fun to watch, espcially with Urby near by