sickx,
Thats definitely a myth. I remember hearing that during my primary school days and i actually took my school shoes and other sports shoes and threw them in the air to see where it lands. Haha, the silly young days.

Having grown up now, the only reason i can think when the shoes supposedly land on the studs is the fact that the studs are heavier and tend to pull down faster compared to the top part of the shoes, when you flick it in the air.