Yes, but. With the notes mentioned previously about ventilation and removeability, I'll add a few from my experience.
Snow shelters are best used when it's _really_ cold. Cold enough that you'll think it's warm inside the shelter if it never gets above freezing _inside_. I've slept in an insulated snow shelter before, like covering a tent with snow. Mine happened to be a makeshift shelter, an A-frame covered with fabric. If it never ices over inside (temp above freezing) ventilation will be adequate.
Insulated shelters are best suited to medium depth snow, where gathering enough to build an honest snow cave or igloo is impractical. Insulated shelters derive some benefit from the insulation of the snow, but the majority of the benefit they derive is radiant heat from the ground. This will be enough to raise the temp inside the shelter by up to 20 degrees F above outside temps _without you inside_, but requires you to scrape the ground clear of snow before erecting your shelter. It is essential to build an insulated door to your insulated shelter, or you lose most of the heat. You can accomplish this with a piece of fabric material in which you gather a load of snow, tie it, and then bounce it vigorously against the ground (like breaking up a bag of ice cubes) and then seating it in your entrance, knotted end down, to harden. It will form itself to the shape of the entrance, and with the knot, you can pull it in place after you.
Stryver, who slept in his snow shelter with his bag mostly unzipped...