I've heard of people breaking the kickstand or the mounting bolt doing this. I was too paranoid to try this on my FZ6, I've done it on the R1 a few times till I saw a post about it breaking the case on the engine when the mount broke. also when I have done it, the stand flexed so much it looked like it was going to snap.
I saw my buddy do this in my driveway a few weeks ago... It blew my mind cuz he's a tiny guy... This looks cool in person, and it's really practical when some jerk parks right in front of you on the street. (Had to pivot to get out a COUPLE of times)