Yes but the power functions track is all one piece, so I am assuming that the trans-clear track Walter has or is considering getting has no rails. I’m not seeing a picture of it on his Flickr stream though, so I don’t know if he actually has it.
My guess would be that it can probably be done, but I don’t know how easily. But I agree with Greg that the first place to look is YouTube. Also, there’s train people who modify their track as needed, so you might be able to find a forum on that somewhere. I’m not sure anybody in this group has experience doing anything like that.