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Assume you are talking about feedback loop clippers (e.g. in a BMP or tubescreamer).
It will work, but will be counter-intuitive to use: The amount of clipping will be highest at each extreme (i.e. minimum resistance in series with the clipping element) and will be lowered as you approach the middle of the sweep; It will then will increase again towards the other extreme of the pots travel, but with a different flavour of clipping.
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