It would be theoretically possible to transmit data back to the PC through the trace channel; however, no one has reverse engineered the protocol that would need to be used to receive data at the other end. Additionally, it would necessarily be less than svelte due to the lack of Explorer or Zune software integration.
Alternatively, you could just dump the data over trace and hope the user has a debugger hooked up to receive the data and C&P it into their text editor of choice.
tl;dr: No.