I dont' know much about maintenance and tuning, but this sounds ridiculous. Oil isn't designed to handle the temperatures of the combustion chamber, it'll just burn, and burning of oil is a sign of an engine about to fall apart! lots of black smoke etc.... I can't imagine how this could do anything but contaminate your catalytic converter and clog your fuel injectors. Burned oil is NOT clean, lots of residue so u'll just be filling the engine with crud.
please correct me if I'm wrong tho. Just doesn't make sense to me.