I found this out by mistake during an online match where i was Virgil and the opponent was Ryu. I did stinger and missed then he did Shinku Hadoken and since i knew i was somewhat screwed i spammed grab and this happened.
Ryu & Akuma:
Seems to work on Akuma/Modok/Nova/Ryu. Might work on some of the other cast? I tested a few and couldn’t get this to work on others. Might be 1 frame or just not possible.