Dr Sylvain Chamberland, Orthodontiste says:

There is many ways to bring an impacted canine into occlusion and the one you describe is one of them. However, engaging a Niti wire to the attached chain is likely to cause side effect of intrusion and canting the occlusal plane even if the tooth in not ankylosed. The figure on the left show the force system and what occurs in picture A and B. The recommended approach is to use a main rigid archwire and an auxilliary wire (picture C). The main arch wire will prevent side effect and the auxilliary wire will assist the forced eruption.
My preferred approach is to use a removable appliance so there is almos no side effect on the adjacent teeth. Once the canine has moved and is visbile in the mouth, then i will finish the cases with braces.
I have limited experienced with luxation of an ankylosed tooth since often time it reankylose as it healed and it may undergo external root resorption. Therefore this is not my preferred option, but i know some orthodontist did it.
A more complete answer would take me 1 hour to write, but all my materials is availables in keynotes. I recommend that you look at the keynote palatally dispaced canine in my slideshare site.
I was lecturing at NYU College of dentistry last Firday (May 1st) and the first 15 minutes of the lecture was on mechanics to extrude high canine. Most slide are in the above mentionned keynote
I hope that help.
Best regards