Like RGT said leaving the selector in drive and using a mystery switch the OD stays engaged all the time but when you manually shift the gears I believe OD is locked out in the VB.
That would definitely help on the 1-2 shift since first is fairly low. Have to run the numbers but off the top of my head that may put the 2nd gear OD real close 3 direct.
If you shift each gear into OD well out of the TQ curve it would probably live as the line pressures would be high enough but that would defeat the pupose of keeping the egine in the TQ band on acceleration. If you tried to shift into OD at TQ peak I don't the parts are big enough to take the abuse and live very long even with the lower effective gearing. You could make the pressures high enough to apply and hold but the amount of power being transfered would put a strain on the OD section. I am pretty sure the VB could be modified to allow OD on a manual shift but whether you could get it to auto shift in and out as the gears change is beyond my comprehension at this point.
That is just a great idea and one of things I just love about this place and the people in it. Even with the drawbacks, in certain cases that would a really cool modification. My trans is not long for this world and this is just a cool enough idea I may try it and see how much it hastens the end.