It is definately possible, and not only for buidling blocks. I used the LDRAW file-standard to get a graphical representation of data that was too much for MS-Excel. I had a macro generating me the .LDR file and then use LDView to visualize it. Was an easy way for me to aid analysis of problems/bottlenecks in communication systems as you could zoom in and fly around with ease...
see a sample here
Gerald
see a sample here
Gerald