On this fascinating two DVD series, IM and FIDE Senior Trainer Andrew Martin answers with a resounding 'yes'!
Using mostly modern games, with a few classics thrown in, Martin demonstrates that even very strong players underestimate the Colle, do not study the subtleties of the opening and can end up losing horribly.
Part 2 tidies up remaining ideas after an early ...e6 and covers lines where Black avoids ...e6 until he has developed his Bishop on c8