Technically, I can't see why not. The ACLs are on the "sys_db_object" and "sys_security_acl" table.

If you can actually do a data transform to this, would hazard a guess and say not since, to me anyway, it would be easy to break things and break the instance since the ACLs are the lowest level of security.
May want to pass it through HI and see what they say.