i don't see why it couldn't - as long as you're within the electrical specifications (on the datasheet), there's no reason to think it would "wear out", aside from manuf. defects or something
not that it is strongly recommended, but I've got leds running straight off pic pins, with no resistor, relying instead on the internal resistance of the pic to limit the current (the collective RdsON of the pic's gate fets). Source voltage for the pic is only 3.6v in this case however