The answer seems to be NO and Apple's documentation implicitly confirms this:
If you want to apply a graphical effect, such as blur, to a snapshot, use the
drawViewHierarchyInRect:afterScreenUpdates:
method instead.
It's worth noting that the Implementing Engaging UI on iOS session from WWDC13 lists snapshotViewAfterScreenUpdates
as the fastest method, but uses drawViewHierarchyInRect
in the example code.