it's seems that it might not have it when alot of people saying that, but i dont get it! O: lol this video of E3 for Modnation racers for the Vita shows L3 close to the bottom middle of the screen in the right saying L3+R O-O http://www.youtube.com/watch?feature=player_embedd
Please read this:
As I have stated before, all I can see is a graphic with L3 on it, as this trailer is a mockup used to sell the idea of the game on the PSV it does not mean that those are actual graphics from the game. Those can be taken from the PS3 version and the editor of the video did not think about the implications of leaving that detail in.
Until I see some one in a video actually push the sticks in and an action happens on the screen, or someone reports thatthey have used the 'L3'/'R3' buttons I will not take a screen shot as fact.
CaptainHuggyFace posted that in the last thread that asked about L3/R3. And it's a good point.
And seeing how they couldn't click the sticks in, the graphic is wrong, since the video shows an arrow pushing down on the stick (which, was confirmed by IGN, to not be possible).
So just say, it can't.