Yep you should be able to do that with the safc, that's what i'm going to do coz fuel cut is a major pita. I can't sit on 14psi for more than 2 or so secs and it hits :/ damn stock ecu lol.
The only thing to watch is when you pull fuel with the safc it will advance timing a wee bit so other than watching it on the dyno i'm not sure how else you can monitor it. As long as you don't go stupid with pulling fuel I would assume it would be alright as long as you're using good fuel too.
edit: I'm using a fcd as well!!! My ecu just hates on my air volume
If you already have an safc do it, or just wind the boost down a bit and save up for a standalone. Thats what i'm doing
edit 2: Also if i recall the type K does not clamp the signal it merely moves it. Map sensored cars with hks fcd's clamp the signal entirely.
edit 3: Clearly i'm not very good at reading LOL. If you add fuel (in actual fact you are just adding air signal) you will actually make it worse. To move fuel cut up you need to lessen the air signal, how I was going to achieve this was raising fuel pressure to 45psi then taking out fuel with the safc