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As seen here (looking via mobile, full site might have more details i can't see)
http://www.birminghamcyclist.com/m/event?id=3004025%3AEvent%3A80854
generally, it involves lots of RLJing together with upsetting other road users.
They have quite a few in bristol
http://trackdropouts.com/hacksaws-challenge-3/
Bristol to bath then back to Bristol again
Watch out alley cat race in Bristol this weekend
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Basically it's a treasure hunt. But "treasure hunt" doesn't sound as badass. Red light jumping is strictly optional, just like in real life.
That one posted above looks good. I think you have to eat a portion of chips at each checkpoint.
its like a pretentiousness competition.
very hard to win as there's always someone willing to push it just that little bit further.