In Aust that's called "stripping" the road surface... it's a preparation for resurfacing. It's also a pain in the rear to ride on... best suggestion is to treat it like riding in a cross wind - remain relaxed, don't get a death-grip on the handlebars, let the bike correct itself, and slow down & get out of it as soon as you can for your comfort's sake. The bike's not actually going to jump out from under you, it just feels like it might.
Matt