The thing about doing this is that if, when you reach your target weight, you revert to what you used to eat before - i.e. a high carb diet - then you will pile the weight back on again.
This is just the same as if you were doing a low calorie diet - if you revert to eating loads of calories, you will pile the weight back on.
However, the difference is that with low carbing, you aren't affecting your metabolism in the same way as if you are restricting your calories. When you restrict your calories you are effectively starving your body, so it slows your metabolism down. But, and this is the big but, your metabolism slows down disproportionately to the reduction in calories. So when your diet is 'finished', and you increase your calories (even if you don't massively pig out), your metabolism remains lower, so your body can't cope with this increase.
This is why you see the whole 'yo yo' effect from low calorie dieting - each time you revert to 'normal' eating, you end up putting weight on - and it gradually increases each time you diet/cut your calories.
This won't happen with low carbing, as you aren't starving your body of nutrition.
However, it is carbohydrate that makes you fat. So you have to be able to work out how much carbohydrate you can eat without gaining weight.
And this is the difficult thing with carbs - everyone is different. There is no daily amount that everyone should be aiming for. Some people can't tolerate very many carbs, others can tolerate a relatively high level.
The general rule of thumb (according to Dr John Briffa) is that you should aim to eat no more than 100g carbs per day. My trainer says that you shouldn't eat more than 30g carbs at any one meal.
In reality, this means that you have to be pretty careful - a meal of lasagne and garlic bread, washed down with a vat of red wine, for example, is likely to be too carby!
That said, the odd 'blip' isn't likely to make much difference, as long as you're not including masses of carbs at every meal, every day.