Yes! The floating or barred thumb technique is so flexible. I always felt like I was trying to play my 6 stringer like a drum kit. Each appendage doing something different at a different/same time while I tried to mute with my left hand, right palm, reach across all the strings with my picking hand thumb anchored on a pick up (use the B or E string instead!), etc.
The floating thumb make muting so easy that you don't even have to think about it after a short time. I'd give mysef a month of constant practice/playing to get it feeling natural.
I first learned of this technique from an Adam Nitti column in Bass Player mag. Check thier online archives maybe...
Bassically (yeah I know...), simply have your picking hand's thumb follow one string behind whatever string you're currently picking. Your anchored thumb on the low B mutes that string.
Left handed muting is much easier on a 4 string than a six or seven.
If you have an opportunity to see Herbie Hancock's Future 2 Future Live Concert DVD
with Matt Garrison's amazing bass solo, you'll see floating/barred thumb technique in action.