Never tried it in the maser - not having the clutch under control might cause it to be problematic, you might end up in a fight against the electronics. If I were to try it I'd probably go for rolling forward, ******* the right pedal while squeezing the brake a little. You need to con the electronics into thinking you're moving so it dumps the clutch, otherwise the smoke might be from that rather than the tyres.
Get some dunlops on the rears, judging by how my fronts behaved they'd probably be great for burnouts!
Provided you hook it up right it wont damage the clutch or anything much other than tyre wear and wear on the rear brakes. If you dont get the tyres spinning quickly then clutch, box and diff all get additional stress that they're not really designed for.