I have done it before. In fact thefirst year I went shotgun hunting I was sitting on the ground next to my dad. It was about 4 in the afternoon and we hadn't seen a deer in 2 days. I started to snooze off and my dad said i slept for about 10 minutes before he nudged me and wokeme up. I wasn't awake for a minute when I looked to my left and saw an old doe standing not 10 yards away. 1 shot from an 870 and I had my first deer.
This was about 7 years ago and I try not to fall asleep since. I've never done it while sitting in a treestand since I keep thinking that I'm 12 feet and well thats a long fall.