only if you use a correctly fitted anti-syphon tube and even then you can get damaged solenoid/orings from the cold caused by expanding co2 at high rates of fire.
Forgive my stupidity but, C02 is less consistent, freezes the hell out of your marker, wrecks internal / reg seals / solenoid and gives your position away.
I used a pvi shocker on co2 for a good year or two, freezes the **** out of the bottle, but works fine. No spikes or overpressure problems, and accuracy you just don't get on todays markers.