That's pretty cool. From watching several clips on YouTube, it looks like there is a preferred technique- you don't "chop" the neck of the bottle, so much as cause a crack at the joint where the cork basket wire wraps around. The pressure of the gas in the bottle blows the top off.
Next time I have to open a bottle of champagne, I'm gonna try that. A battle mistress would be a good choice, but I'm kinda thinking it would be cool to try with a folder (the HANDLE of a folder). Take that, Frenchies! I can do with a slipjoint what you need a SABRE for!