I made a video of this. I hope I am doing it right in the sim. I'm just crashing it into the ground after the flip but that doesn't matter (?). Youcan clearly see where the elevator is going. It's a relatively high resolution video. Let me know if I need to try it differently. I get consistent results when I try it in the sim.
Video (1.5 MB):
http://www.enrarot.net/monkeyflip.wmv
Actually, I was flying at home a week ago with a friend of mine, and I performed this maneuvre (not knowing what it was called) and said "Wow, the sim correctly interpreted the elevator when I fell backwards".