No... Quality magwell vice blocks themselves can handle it, but they do not support the lower good enough for removing or installing receiver extensions and castle nuts when using the correct torque specs... You could end up damaging the lower.
It's best to clamp the lower in the vise between a set of rubber faced vise jaws in the trigger well selector area, just above the grip. These are the ones that I use. >
Link.
The rubber face vise jaws work well, but I make sure to tape off the rubber surface every time I use them because the rubber will leave smudge marks on the receiver that can be a pain to clean off.
The Geissele Reaction Block is okay too. You just need to insert a magwell vise block into the lower and have someone hold on to it to keep the lower in alignment so that the lower doesn't move in the direction of torque and end up canted in relation to your receiver extension.
If someone would just make a jig similar to the one that Colt uses for carbine receiver extensions that would be great. It would probably cost around $500.00 but I would buy one.