This has always been a point of some confusion...
I don't think it would work, because the distance from 21st fret to bridge saddle is about an inch shorter than on a 25.5" scale guitar. While I don't have exact figures, I once took measurements of my Jagmaster vs my tele, and they were differnt, so it might not intonate.
I'm not sure how mych further back the intonation screws on my Jagmaster can go.
But I do wish someone could definitively answer this question. Maybe I will email Fender...