Ive always heard its not good. Its like with a tape deck, you know those little cassette adapters u used to use in your car for connecting cd players etc. well when the heads in the player are spinning on the fake cassette, there is no resistance on the heads, as the little spinners are just floating (due to there being no tape there is no resistance, though some more expensive units actualy replicated the pressure to avoid damage to the cassette deck) which can throw off the mechanisms causing falure. While an engine isnt as fragile as a cassette deck, not having a load on the engine can mess things up. While a little reving wont do anything, to much can. Did you know that just having an engine on idle (having the car on but not driving) is one of the worst things to do, it can cause the most harm to your engine. Well reving in idle is basicly the same thing only now your putting more work into your engine, hense being worse. Engines are built to withstand these things though, so again a little wont do much harm but a lot will.