Yep I had to keep an eye on my 916 when doing long extended second third gear wheelies. Too high and the oil light would flicker on so it was time to drop it back down. Lose practice now through.
Not sure the chap above mean by wheelies - yes it will lift the front when pulling away from the light if you open it up a bit with a little too much clutch slip but I think we are talking about proper balance point wheelies - which is the only kind that is actually a "wheelie" not just a power wheelie. Proper wheelies on the z aren't easy for reasons given above. I took my smashed gsxr and bent frame straight so build a so called streetfighter to learn.

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