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My 2000 has it. A lot of new (and some old) C5 owners are unaware of this feature. You have to be stopped (on older models only) and then you hold the "disable traction control" button on the console down for 5 seconds or so, and then the DIC will change to "Competive Driving" mode. I love this feature. Use it all the time when "spirited" driving is called for.
I love the "Competetive Driving" mode. Active handling has saved my *** on more than one occasion. With all this power, these cars can get sideways REAL quick. When I'm just goofing around I'll turn it all off, but for more spirited rides, I'll find CD mode.
On the newer models (2001 and up) it can be accessed while the car is in motion. On older models the car has to be stopped before CD mode can be engaged.
I like it too. Just an fyi, when you disengage the the active handling it shows up on your dic. If you hit the reset button it means you have acknowledged the message. I didn't always know this, and I found it annoying that it stayed on.