It has little to do with the power rating of the transmission, rather it is the effect on the torque converter and fluid. Holding the brakes while building boost will heat up the transmission fluid. It held for too long, it could scorch and varnish the fluid. The possibility also exists that the structure of the torque converter can be damaged with excessive abuse.
That being said, I tried the holding the e-brake in the up position at a stop light. I felt that the engagement was often abrupt but not always. Sometimes the car crept forward, other times it didn't. Finding a way to use this at a drag strip (in my car) may prove difficult. There seemed to be a delay upon releasing the brake and when the car left. HOWEVER, when all things worked as desired, my car took off! It is definitely building boost prior to launch.
It was so good, that it almost seems like an "easter egg" that the engineers left in the programming for enthusiasts. I think with a little practice, and a transmission fluid cooler (if available), this could be a very effective way of shaving "10ths" off of times. "Good find!" to those who discovered this.