You could sit and hold full boost and bounce off the limiter with LC and it's not any different than cruising at the same engine speed under load, which happens pretty frequently - the difference being the clutch is not allowing the transmission to engage which means engine load is even lower than when cruising. Your engine will be fine.
That said, these cars are not a super big fan of back-to-back launches with LC. Back when I was only Stage 1, me and a buddy were playing around, he was in his S4, lined up and did a LC run, then cruised for a minute or two and circled back to the same spot to do another run...I was able to get LC started, I was waiting for him to get his LC going, and after about 3-5 seconds of bouncing off the limiter my car fell out of LC and lit up the driver info screen with "REVISE DRIVING STYLE - TRANSMISSION OVERHEAT WARNING" and the car sat in limp mode for about 30 seconds before the message went away.
This was only the 2nd attempt on an ~80 degree day and I had cruised for a solid couple minutes after the first run to get back to the spot where we started. Granted the car had significantly more torque than stock even with Stage 1, but something to keep in mind when using LC :)
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