Yeah, as far as I know it’s not commonly used or even considered technically correct. But I worked on a ride film about 20 years ago and ended up making fairly liberal use of it. Within reason the point where the centerline of the lenses cross becomes your screen plane. We had virtual camera rigs to help us visualize it within the shot.

So this picture had me wondering if someone had created a similar physical camera rig. This all reminds me, you should be able to find various anaglyph versions of the trailer up at robotsofmars.com if you’re interested. I’ll have to make a full post here, it’s dated but still kind of fun. And I think Tim Curry is actually the voiceover on one of them :-)