Slightly unrelated, but how does one attempt lift-off oversteer in an FF car? I'm intrigued since I drive a MINI Cooper S in real life, and I'm always looking for ways to turn harder (though trust me it turns plenty hard for a stock vehicle). I think the suspension is probably too stiff to really make it oversteer in confidence, but it certainly has a lot of engine deceleration on lift, especially if I turn off TCS.
Lift-off oversteer is used when you need to make just a slight adjustment to your line. This can be done during steady state cornering or when entering a kink or similar.
When in steady state cornering and encountering slight understeer, you should be able to keep your steering input stable and just lift off the accelerator. This will pitch the weight forward increasing the grip on the front tires and cause the rear to loosen, shifting from understeer to oversteer.
For entering a kink that you can almost take wide open, but encounter understeer, simply left off the throttle and turn in to the corner as the weight shifts forward. Then get back on the throttle. This gives the front tires enough grip to turn without scrubbing a ton of speed.
For this to work you have to be in a state of understeer. If not, there is still grip available and you won't notice the shift in traction.
And Minis are great for lift-off oversteer. Just practice in a safe environment and try it with different amounts of lift off and see how it reacts.
SavageEvil ... I'm not sure you are considering engine braking in the correct context. Any time you are not on the throttle and the car is moving and in gear, you are engine braking. Engine braking is very useful in slowing you for corner entry and assists the brakes. Without engine braking your braking zones would need to be longer and you would overheat and wear brakes much more quickly.
You mention heel toe techniques. Heel toe is used to downshift and use engine braking without causing it to lock the drive wheels.
Lift-off oversteer uses engine braking in a sense (if you lift a lot) to correct or modify your line in a corner. It's very useful and I use it all the time in autocross.