Heh, speaking of those I actually tried that about 2 weeks ago, it worked great on the start race menu with the car spinning around (probably in pits too), but while racing I didn't really notice any effect to be honest.
If you have an Nvidia card there is an addon you can get so it can do the blue\red filter to work in 3d, I don't remember where I downloaded it from, but it is out there.