Looks like he is on the power at corner exit, in a controlled drift, and he is countersteering to keep it in the proper trajectory.
That pic "says" a lot to me. What a delightful state of balance, hanging the rear end out, feathering the throttle. Sweet technique, and a motoring experience so sublime. Much like a surfer catching the crest of a wave, or a snow boarder carving a turn in a flurry of white powder. Thats where I wanna be, hanging in the balance between heaven and earth.
Yes, I know I get carried away with this stuff! Still, I manage to type with this straightjacket on.