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Do not see a reason why not. It will affect (delay) when the overloads come into play is all I see. On my dually I have about 5" between totally unloaded and when the overloads would come into play. Hooked up to my FW with a pin weight of about 2500# I'm still 3 - 3.5" from hitting the overloads. I have actually thought of increasing the size of the spacer an inch or two,
. . . and I'll add: Make sure that all other clearances are adequate and that the bump stops are in good shape. Removing this spacer will allow the axle to travel higher relative to the frame/body/turnover ball (if equipped)/etc.