I've done that for years with no problem. It's easy when coming up to a red light to just push on the lever and move to neutral.
The speeds on both sides of the clutch have to match for you to do this. moving to neutral is easy, just a gentle pressure on the stick as you coast, and when the proper speed is reached, it moves easily to neutral. Up shifting is more difficult, but can be done. I'd reserve it for emergencies, as it is easy to miss and clash the gears.
To upshift, rev the engine a bit and move to neutral. then rev a bit more and move it into the next gear. The difficult part is how much to rev the engine, and that depends on speed, gear ratio, etc. With practice you can get better at it, or you can ruin your transmission.
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