Yes... Just as you can trap failure to open a file and re-direct it to another file.
Because of the outdated nature of TCP/IP v4 most IPs and ports are only applicable from certain locations anyway, so port-mapping back and forth across networks happens a lot, you just don't notice it... publicly stealing (spoofing) someone elses IP is frowned upon, but doing so privately (on your own LAN) is quite commonly performed by Ad-Blockers, popup stoppers and anti-malware. They redirect known blacklisted sites back to your localhost so anything your machine tries to get from trojan distribution sites leads to nowhere, or your own 404 page.
Malware can also do it back to you so that Google, Yahoo, Facebook, MySpace, Meebo, Microsoft etc all lead to their trojan distributor, which gives you fresh virus and then redirects you to the real site.
What is your point in connection with PT Development? I don't think this is easier than making your own custom client unless you only plan to roll it out to machines on your LAN... and even then, the cost benefit ratio is very low.
