First of all, it sounds like the pops and flames are coming out of your exhaust pipe. That makes this an "after-fire." It happens when fuel gets into the exhaust and ignites somewhere in the exhaust pipe. It is usually just a sign of a rich mixture. It can also be cause by improper valve timing (exhaust valves stay open too long after the intake valves open). Emission controls can sometimes cause this when they get clogged, or old.
A little is perfectly normal; but if it is excessive you might take a closer look at the above mentioned issues.
Personally I absolutely love the sound! Few things sound as good as a sport twin popping on deceleration. The only downfall is you might burn, or blow, the packing out in your exhaust cannisters quicker.