Yes, it can. Mine works that way. You just need to activate the VTEC functions and not wire in the ECU VTEC input wire (you just wire the output/pink wire if I recall correclty). You wire the VTEC output to one of the solenoid leads and ground the other (the AFC Neo works on a "normally closed" manner, as opposed to the MSS, so you need to ground the second lead, and not send a battery signal to it.
However, you have to wire both solenoids together for this to work, as the AFC Neo only handles one activation point and the VE has 2 solenoids. Mine has been that way for about 7 months now, and it endured lots of track abuse (for the time it's been in my car anyway). I never had to worry about it once the wiring was done.
I may eventually switch over to something with 2-stage activation functionality however.