Can't see the picture at work, but I'd imagine probably. The velocity at exit of the barrel is still very high. I mean, you aren't going to want to stand in front of it. The shaped charge may not function if the speed is low enough and it impacts a soft object like a body (maybe), but once the second stage rocket motor kicks in you're going to not want to be around it. The shaped charge may be directional, but you're still going to have a detonation wave that would probably kill people within a dozen or so feet, and people within 50 feet will have hearing problems at least.
*edit* picture came up, yeah that's pretty stupid, if he fired that thing he'd be hurting.