Air Ram promotes this or at least sells this. Is there no point in using it snrusnak
airram is pretty good but there are a few things on his site that I don't agree with and this is one of them. IMO tricking sensors in an attempt to get more power is not a good idea. It throws off air/fuel ratios, and could be damaging(likely not right away, but over time). This "power wire" will make the computer add more fuel than it's supposed to (due to an overly cold intake air temperature sensor reading) and the air/fuel ratio will be rich. As most performance oriented people know, rich does not give you more power; "lean is mean" Also, under wide open throttle the computer goes into open loop mode(does not use sensors, uses preset fuel and timing maps) so this would do absolutely nothing at full throttle, so in drag racing there would be no effect.
Bottom line is I would not recommend using this product, or any other products like this. The exception to that is the sonnax line pressure booster. I haven't tried it yet, but it is a resistor that has a similar concept, tricks the transmission line pressure sensor, and makes the line pressure increase about 10-20psi if I remember correctly, and this gives more clamping force for the clutches. Many have been using this successfully and I can't think of any ill side effects...
EDIT: And to answer the original question, I don't see any reason why you couldn't do it to your truck, but don't recommend it.