I don't think so. When I press pigments, I find that once you use your brush, they seem to be pretty crumbly (vs an e/s from MAC that stays super solid when you rub your brush up against it). Pigments kind of stick together even in the jar (some ball up) whereas the Reflects glitters are fine, very loose. Once you mix it with alcohol and the alcohol evaporates, I don't believe there is anything that would enable the glitters to stick to themselves.
edit: i'm testing it out now, will let you know later what it turns out like