I hate when people just put their foot down and bounce off the rev limiter like that... have some throttle control, damn.
As for the question at hand: Nah, I don't think they mean anything at all. I don't even think the cops are obligated to respond to them. And even if they do, unless there's some sort of photo evidence to support the claims, they can't do anything about it.
I've heard/read enough horror stories about the cops that I wouldn't call them to solve a problem for me anyway. Castle Rock vs. Gonzalez comes to mind.