In theory, yes. In reality, its not so likely. There is a huge hurdle--petitioning the governor, etc. And, the legal expenses. We've had a few such folks show up here on the forum over the years. The thing I remember most from those discussions was how much of a burden the legal expenses were gonna be.
Moreover, as the Innocence Project has shown by winning the release of over 250 prisoners, there are likely a lot of innocent people convicted of felonies. And, that's before we examine people who were convicted of malum prohibitum felonies.
I'm guessing there are a lot of people who government not only refuses to recognize their right to self-defense, but actively threatens them against exercising it.
Personally, I don't see any point in denying felons the right to self-defense. The genuinely bad one's are gonna get a gun and commit crimes again anyway. The wrongly convicted, and those who learned their lesson are not. Really, all it accomplishes is to give the cops a reason to arrest a felon-in-possession. If that arrestee is committing crimes, he's actionable for those crimes. If he's not committing crimes, but merely in possession for self-defense, so what?