Anyone try this yet? Is it even available in the US/Canada? Notice that the display clearly says "Launch Control active.". This is obviously not a US X3 M40i. I haven't had a chance to try this yet but a little research and I came across these instructions from the X4 forums from a post by SnowTurtle:
Tap the DSC button.
Move gear lever left.
Hold brakes
Step on the accelerator activating the kick-down function.
Release brakes to launch.
Not tapping the DSC button and holding it down will deactivate DTC (Dynamic Traction Control). I have only messed with this on an airfield in snow so there was little chance of killing myself.