is you friend black or white

here's one from QID.

The double fianchetto is fine, I think.  If Korchnoi played 40. .. Rxd4, he probably would've won, right?  Oh wait, he did - my bad!

I think the system the OP showed is not good, but the double fianchetto is viable in numerous openings.

It is quite playable in the English, the Sicilian Dragons, the KID, the QID, the Nimzo-Larsen, the KIA, the pirc/modern, and probably others I am missing.

Personally, I play it a lot, in the English, the Accelerated Dragon, and the QID. It exerts great pressure on the center, and often wins you a rook exchange, if the opponent gets careless. You just can't rush it. You need to develop knights as well, and tend to the center pawn structure.

I stumbled upon a game by Ponomariov when he had a 2684 elo rating where he double fianchettos and wins on white. 

http://www.chessgames.com/perl/chessgame?gid=1201082

I can't tell if its a rapid game or not though. I'm guessing with such a bizarre opening, it is.

I do double fianchetto quite a bit as well. Sometimes I feel like it just makes me lose however I am so used to it now that I hesitate working with anything else. I agree that controlling the center is important. I sometimes work with some pawn moves in the center as well.