Looks to be like a tip sensor, so kinda... I think this will limit the engine speed if a certain angle is reached, keeping you from looping. Not sure if it will entirely kill the motor though, that seems a bit dangerous.
jerking round the other night with a coupple of friends and popped the clutch in first a little to hard and brought up the front for a little, didn't want to do it, was scared sh*tless. I wished it was video taped because my legs instantly went to the sides strait out because I didn't know where I was going to land. Scary, but now I know not to do that again. but will try to perfect the balance now i know I can do it!