Nope, it never did with riders on but it had inverting capabilities. My friend worked in Festa Italia as a supervisor when the area first opened and she saw it in a test mode where it inverted. It's a shame that it never did because the basic ride cycle was stupid. You always came off the ride (if you were lucky enough to ride it because it was always down) saying "WTF was that?"
I occasionally hear anecdotes like this, about Vekoma Canyon Trips being inversion-capable. Surely there is video footage somewhere of it being done, though I have never seen it. As far as I know, none of that model's installations (of which there were just a small handful) ever operated in that mode with the riding public. It really is too bad... the ride experience likely would have gone from ultra lame to being one of the most intense rides in the park at the time.
Given that the Canyon Trips don't appear to have had drive motors at the ends of their arms, I assume the inversion mode was something like what Top Spin eventually did, years later: lock the rotating hubs connecting the ride vehicle to each arm at some point during the ride cycle, and then rotate the entire carriage upside down slowly by bring the arms up to their full elevation. Maybe release the vehicle suddenly for series of two or more kick-assisted flips, if Canyon Trip was capable of that (don't know).
Since the connecting joints on Canyon Trips allowed for more degrees of motion than Top Spin's hubs eventually would, the stresses involved would have been more interesting to anticipate and design for.
It's a little odd, honestly, that (1) there is no video of Canyon Trips inverting (though I would
LOVE to be corrected on that) and (2) Canyon Trip evolved into the non-inverting Waikiki Wave, only then to become the inversion-capable and legendary Waikiki Wave Super Flip with what appears to be the addition of motors at the ends of the arms.
But then again, a lot of strange things were being done with amusement rides at the time...
