As Lulu I try to avoid it, but I'll definitely go for it if we're not directly on top of that champ, or if the champ can take the heat and still burst us down, like Mundo.
Nothing is more satisfying than an enemy carry that thinks he can nail you, because your carry is in town and then you Q ->W -> E -> R -> Q + autoattack in their face and they realize you're going to get a kill. It's not like it happens often and mostly not during endgame, but early lane phase, if my carry takes too much heat; dang, I've made so many kills people started calling me solo bottom Lulu.