Well, seems like it can!

This is something I was testing some weeks ago while on holidays. I was testing some tricks to improve the speed of flash raster methods. While at it, I played around with the usual
XOR code a bit but I wasn't getting much (~20fps at 512x256).
Weeks later, while having a nice coding session with
Texel I found
Forrest Briggs post about this same topic, applied everything together, and there we go, 1024x1024 at ~38fps.
The source code is very simple but if you want to take a look...
here you have.
So... in short, never forget the
BitmapData.lock() and
BitmapData.unlock() methods, it gave a
~7 > ~38 fps increase.