I've done the pasteurizing technique on glass bottles that I filled from a keg so that I could store them at ambient.
It was hit or miss. The bottles stored fine, but some of them broke in the water because I let them get too hot. Yeast carbonated sodas easily get more carbed than those filled from the keg, so I'm not sure they would take the heat very well before bursting. On the plus side, if you keep them fully submerged, the water keeps flying glass shards to a minimum.
If you're going to do it, make sure that you keep track of temperatures. I think a max-temp dishwasher thermometer in a test bottle would be handy in making sure that the batch came to the proper temperature and would help you refine the process if this is going to be a regular practice for you.