The first I heard of a controlled wing release was in this episode of the Casey catch up with old school boogie board legend Kyle Maligro. In this podcast they call this move the "drop wallet" which is an appropriate name considering you're probably dropping $1500 worth of gear hoping to get it back

. Kyle talks about using the move with great effect both in the surf and down-winding. One of my friends does the drop wallet a fair bit around the perth metro area. It works great for down winding in the bumps we get around here. It's pretty cool to see him come flying past bare handed, a bit of a party trick. He just uses a kite leash with a small weight but has the issue that the wing drifts a bit slowly for down winding so he always has to paddle back out to it. I am keen to give it a go and might have to rig up my own anchorman using a kite leash and a sea anchor/Drogue. I can definitely see the safety benefits as well both for getting slammed in big surf and for getting out through the shore break. Swimming out the wing then board separately would work great in nice side shore conditions, onshore perhaps not so easy.
This video of James Casey shows what magic can be done doing drop wallets in super light wind and surf. Of course results may vary for us mere mortals!