Certainly could be done. Four Stroke pipes get WAY hotter than a 2 stroke pipe does though. Ive seen a few 4S pipes that were literally GLOWING from heat. Never seen a smoker come close to this. I would question if there is any benefit to it. Think how much higher flowing the exhaust is on a 2 stroke bike versus headers on a V8 ... The cylinder volume to exhaust diameter ratio is so drastic between the two. I really doubt you would see any measurable difference in it. Think how much two back to back dyno runs can vary just from temperature, humidity, engine temp, etc. If it was worth doing, you would see professional racers doing it, or so I think.
However if you do happen to do it, I would really love to see if you did a before/after dyno of it. Need someway to keep the results similar though. Use the same dyno, same day, and measure the coolant temp somehow.