It would cool down your intercooler, as the CO2 comes out cold, but I saw a video of it on someones truck and they did a boost launch, were spraying CO2, and it took off quick, but fell on it's face.....all that CO2 was bound to get in the intake......
I just found the video of it sitting on my desktop, anyone have a place for me to upload it or an email, and i'll send it to you.