It definitely can work, and even has some additional benefits (1), but requires special considerations. You can deblur using global motion vectors (2), or additional hardware like accelerometer reading embedded in the video feed (3).
1) cant find the paper now, but by exploiting predictable rolling shutter you get additional temporal resolution
1) cant find the paper now, but by exploiting predictable rolling shutter you get additional temporal resolution
2) http://users.ece.northwestern.edu/~sda690/MfB/Motion_CVPR08....
3) http://neelj.com/projects/imudeblurring/imu_deblurring.pdf