As previously clearly stated, it can and has been done successfully many times.
There are definitely several concerns to remember so as to not botch the task for those competent to do the hub liner machining. One is to machine the contact surface in a mode that allows it to remain concentric to the steel bearing retainer hub. This tends to be more of an issue w/ '70 and up rear hubs. The tension of the spokes can change the shape of the liner.
Another issue with the 55-69 twin hubs is the 30204 bearing race journal ID. Between sidecar use and improper PM, the bearings races are often, or become, loose in the hub. This can also be fixed, yet if brake lathe cones are used w/ the bearings races that have a loose fit for the machining task the brake liner can be improperly machined.