Absolutely. I have done so a few times in the past.
Tell me why increasing compression (and not changing to oxygenated race fuel or something like that) would require rejetting. I am intrigued.
When you guys rejet, what change do you see after tuning it and all that? 2.5 pts? 5 pts?
Thermodynamically speaking, the added power comes from a more efficient burn at higher compression (compression is one of very few factors determining the output power of an internal combustion engine).
This is what increases hp, not adding fuel. The air flow through the engine has not changed, only the efficiency at which fuel is burned. It doesn't need more fuel, it makes better use of the fuel that's there (hence the added power).
/nerd hat off.
Now, for real world experience:
Do you turn the screws a certain amount based on the engine stumbling? Do you turn them some amount "just because", or based on previous experience? Do you use a tach?
I'm asking because I've never felt the need to turn the screws after changing compression. No hesitation, no stumbling. However, I've never used a tach.