Uncle fester spells it out very well.
On top of that, heel and toeing can be combined with double de clutching to make a down gear change 100% unnoticeable.
Try it!
1-Press down clutch in anticipation of a downshift.
2-Move gear from(say) 4th to 3rd
3-Now the tricky bit-Before actually going to third-let the gear lever sit in the neutral postion for a milisecond.
4-With the gear lever in the neutral postion lift up the clutch
5-Now match the current revs of the engine with the intended revs of the next gear.
6-Push the clutch back down and now select 3rd.
7-If you are a little bit frisky with your feet you may also want to add another little blip of revs just before you engage the last clutch motion
8-Perfect down shift!!-Not one hint of a snatch or a jerk or anythiing. If your passenger had their fingers in their ears it would be impossible to detect the downshift. When you get it right(the above looks longwinded but takes a fraction longer than a normal change with practice) a little smile pops on your face as you just know that it was perfect.
The hardest bit is getting stage 5 right, as too many revs makes the car engine flair and too little revs makes the whole process irrelevant as the engine snatches like a normal change.
As for the suggestion that it is dangerous whilst flying into a bend-Firstly on the road if you don't feel comfortable doing something then don't try it. All my braking is absolutely done before
flying into a corner (and gear changes as I am braking and changing gear at the same time).
Try it on a straight quiet road with no one behind you first and then as you become more proficient try it properly whilst changing down.
Some people will never be able to heel and toe for reason like MORK suggested-large feet or not enough flex in their ankles for example.
Have a look on youtube at some of the in car footage of the japanese drift corollas or nissan 200's. There are some good examples of
how to get it right.
By the way my feet are size 10's and I just use the side of my foot-not the heel. Some people actually swing their whole foot over(pivoting at the toe) whereas I am lucky enough that my foot flexes in such a way that I can use the side of it!
Hope this helps.