I've seen this happen at the track more than once. Hell, I've seen it more than once from one guy - my old room mate did it to his DSM at least three times until one of the DSM vets explained how to shift the thing properly.
He didn't quite lift off the rear end, but he did hammer the front end down hard enough to trigger the left turn signal and the windshield wipers.
Log read straight across 9k RPM for several seconds, so I'm assuming it was well above that and the software simply ignores anything above 9k.
His engine & tranny held together, too, still running even now, years later.