It's helped by the fact that the G35 is lightly sprung with respect to its slide weight. That, and the guy doing it is fairly buff.
About zero practical application, however. While not as cool-looking, snagging the rear sight is barely slower and a lot more positive. And "positive" beats "cool looking" in the all-important category of "not getting one's ass shot off".
The real highlight of the post at The Firearm Blog, though, is the Counterstrike Kiddie in the comments section who says:
It could almost make dual wielding handguns a viable combat method, as it saves a lot of time on the reloading.
Now to design a mag holder that would hold the mags for you so you can put them in more easily one handed…
Oh, definitely! I'm going to start "dual wielding" my 1911s tomorrow, because zOMG it's teh awes0m3!!!!1!eleven!~!
Who the $%^& lets these children on my internets?